Federal Reserve announces ban on officials owning individual stocks and limits on other activities.
The ban includes top policymakers such as those who sit on the Federal Open Market Committee, along with senior staff. Future investments will have to be confined to diversified assets such as mutual funds.
“These tough new rules raise the bar high in order to assure the public we serve that all of our senior officials maintain a single-minded focus on the public mission of the Federal Reserve,” Fed Chair Jerome Powell said in a statement. The rules come on the heels of disclosures that multiple Fed officials had been buying and selling stocks at a time when the central bank’s policies were designed to improve market functioning, particularly during the Covid crisis.
Vice Chairman Richard Clarida also had been featured in the reports. Powell also sold securities last year, though they were exchange-traded funds that tracked market indexes.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Fed imposes sweeping new limits on policymakers' investmentsFederal Reserve policymakers and senior staff will be barred from investing in individual stocks and bonds, after questionable trades led two to resign.
Lire la suite »
Government policies are stoking demand and strangling supply. So why is the Fed surprised by the inevitable inflation?OPINION: Policy makers should not have been caught off guard by surging prices and shortages of goods and labor. Here’s why.
Lire la suite »
Fed imposes sweeping new limits on policymakers' investmentsFederal Reserve policymakers and senior staff will be barred from investing in individual stocks and bonds, after questionable trades led two to resign.
Lire la suite »
Nasdaq, S&P 500 fall, dragged by communications servicesThe S&P 500 and Nasdaq closed lower on Friday as disappointing quarterly reports from Snap Inc and Intel Corp dragged down the communications and technology sectors and investors turned skittish as Federal Reserve Chair Jerome Powell discussed stimulus tapering.
Lire la suite »
New Zealand's coronavirus outbreak spreads to South IslandNew Zealand reported 104 new coronavirus infections on Saturday, including the first community case of the virus in the country's South Island in nearly a year, health officials said.
Lire la suite »
U.S. to allow private groups to sponsor Afghan evacueesUnder the new program, groups of at least five individuals could apply to become 'sponsor circles' that would be responsible for helping evacuated Afghans secure housing, basic necessities, financial support, legal counsel and medical services.
Lire la suite »