The Federal Reserve is coming under greater scrutiny from inside and outside its walls following revelations about market trading by senior officials in 2020 as the coronavirus forced the central bank to leap to the rescue of the U.S. economy.
Days after Bloomberg News first reported trades made last year by Vice Chair Richard Clarida, the Fed said late Monday that its internal watchdog will review whether actions by "certain senior officials [were] in compliance with both the relevant ethics rules and the law."
"We welcome this review and will accept and take appropriate actions based on its findings," the Fed said in a statement.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.