77663629
2021-10-22
Becareful of trading nx week
Fed Sets Tighter Limits on Officials’ Trading. What It Means for Powell.
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What It Means for Powell.","url":"https://stock-news.laohu8.com/highlight/detail?id=1106219231","media":"Barrons","summary":"The Federal Reserve Board on Thursday said it would ban Fed policy makers and senior staff from buyi","content":"<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 over officials’ personal investment activity.</p>\n<p>As 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.</p>\n<p>The 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.</p>\n<p>Powell 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.</p>\n<p>The 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.</p>\n<p>Earlier 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.</p>\n<p>While 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. His odds stood at 73% Thursday, according to the site PredictIt, down from about 90% in early September.</p>\n<p>“All this seems common sense to me,” says Roberto Perli, head of global policy research at Cornerstone Macro, in response to the new Fed rules. “It spells out and tightens in places what was the spirit of the existing code of conduct that was observed by all but a couple of Reserve Bank presidents.”</p>\n<p>Perli suggests that stricter trading rules, however, might not be enough to lift the cloud over Powell. “Of course Powell’s critics won’t be satisfied, but nothing will satisfy that group,” Perli tweeted, referring to progressive Democrats in Congress who have been vocal about their desire to replace the Fed chair.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed Sets Tighter Limits on Officials’ Trading. 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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 <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\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/fed-sets-tighter-limits-on-officials-trading-what-it-means-for-powell-51634848073?mod=hp_DAY_0","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106219231","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. His odds stood at 73% Thursday, according to the site PredictIt, down from about 90% in early September.\n“All this seems common sense to me,” says Roberto Perli, head of global policy research at Cornerstone Macro, in response to the new Fed rules. “It spells out and tightens in places what was the spirit of the existing code of conduct that was observed by all but a couple of Reserve Bank presidents.”\nPerli suggests that stricter trading rules, however, might not be enough to lift the cloud over Powell. “Of course Powell’s critics won’t be satisfied, but nothing will satisfy that group,” Perli tweeted, referring to progressive Democrats in Congress who have been vocal about their desire to replace the Fed chair.","news_type":1},"isVote":1,"tweetType":1,"viewCount":167,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":24,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/851959529"}
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