FOMC adopts new ethics rules on trading
Fed reforms follow months of controversy over equities trading and three resignations
The Federal Open Market Committee (FOMC) adopted new rules on equities ownership and trading on February 17, tightening restrictions of officials’ market activities.
The reforms are a response to controversies surrounding large-volume trading activities undertaken by Fed officials during 2020. At the time, the central bank was making substantial interventions in equities and bond markets.
Critics charged that officials were ignoring potential conflicts of interest. Senator Elizabeth Warren
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