Fed Sets Tighter Limits on Officials’ Trading. What It Means for Powell.

Barrons2021-10-22

The Federal Reserve Board on Thursday said it would ban Fed policy makers and senior staff from buying individual securities and restrict active trading, changes that come in response to controversies...

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精彩评论

JonLucky
2021-10-22
JonLucky
It's always prudent to be prudent. But there will always be weak links that needs constant attention, lest the chain breaks.
- 滚股怪:
  Aio
Muppy
2021-10-22
Muppy
Jerome take care
77663629
2021-10-22
77663629
Becareful of trading nx week
- Muppy:
  ok

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What It Means for Powell.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-22 09:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/fed-sets-tighter-limits-on-officials-trading-what-it-means-for-powell-51634848073?mod=hp_DAY_0><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Federal Reserve Board on Thursday said it would ban Fed policy makers and senior staff from buying individual securities and restrict active trading, changes that come in response to controversies...</p>\n\n<a href=\"https://www.barrons.com/articles/fed-sets-tighter-limits-on-officials-trading-what-it-means-for-powell-51634848073?mod=hp_DAY_0\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":".SPX","symbol_name":"S&P 500 Index","start_time":0,"source_url":"https://www.barrons.com/articles/fed-sets-tighter-limits-on-officials-trading-what-it-means-for-powell-51634848073?mod=hp_DAY_0","article_id":"1106219231","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1106219231","pubTimestamp":1634865302,"sourceInfo":{"source_id":"lsy1601382232898","name":"Barrons"},"weMediaInfo":null,"summary":"The Federal Reserve Board on Thursday said it would ban Fed policy makers and senior staff from buyi","collect":0,"end_time":0,"defaultTopTitle":"barrons.com","property":[],"viewcount":null,"language":"en","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"translate_title":"美联储对官员的交易设置了更严格的限制。对鲍威尔意味着什么。","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9},"content_text":"The Federal Reserve Board on Thursday said it would ban Fed policy makers and senior staff from buying individual securities and restrict active trading, changes that come in response to controversies over officials’ personal investment activity.\nAs a result of the new policies, senior Federal Reserve officials will be limited to purchasing diversified investment vehicles, like mutual funds, the Fed said in a statement. The new restrictions will prohibit officials from purchasing individual stocks, holding investments in individual bonds, holding investments in agency securities (directly or indirectly), or entering into derivatives.\nThe 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,” said Fed Chairman Jerome Powell.\nPowell has been at the center of the controversy that began last month, after disclosures by Boston Fed President Eric Rosengren and Dallas Fed President Robert Kaplan showed a series of investments in companies last year that coincided with extraordinary market interventions by the Fed in response to the coronavirus pandemic. Rosengren and Kaplan resigned their posts. News followed that Fed Vice Chair Richard Clarida had moved between $1 million and $5 million out of one mutual fund and into two other funds on Feb. 27, 2020–a day before the Fed issued a statement signaling a potential interest-rate cut in response to the worsening pandemic.\nThe revelations sparked heavy backlash, with Sen. Elizabeth Warren (D., Mass.) asking the Securities and Exchange Commission to investigate whether personal financial investments by senior Federal Reserve officials, including Clarida, violated insider-trading rules. In a letter to SEC Chairman Gary Gensler, Warren said the agency should determine the legality of “ethically questionable transactions” by those three Fed officials.\nEarlier this week, attention turned to Powell’s own investment activity after the publication The American Prospect ran an article saying that he had sold between $1 million and $5 million worth of stock from his personal account on Oct. 1, 2020. It alleged the sale occurred “right before the Dow Jones Industrial Average suffered a significant drop,” and noted that some entries on Powell’s forms don’t provide exact transaction dates.\nWhile Powell doesn’t seem to have the problems his colleagues have had, the perception of a problem could cloud his renomination odds. Powell’s term ends in February, and President Joe Biden has yet to say if he will ask Powell to stay on for another four years. Powell has remained the favorite in betting markets, but his odds have slipped in the wake of the worsening trading controversy. 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