The Federal Reserve announced comprehensive trading restrictions for senior officials following a major financial ethics scandal. In response to controversial trades by regional Fed bank presidents Robert Kaplan and Eric Rosengren during the Covid-19 pandemic, the Fed imposed strict new rules …
Jerome PowellFederal Reserve BoardElizabeth WarrenRichard ClaridaRobert Kaplan+1 morefederal-reserveethics-policytrading-restrictionsjerome-powellregulatory-response+4 more
Federal Reserve Vice Chairman Richard Clarida rotated between $1-5 million from Pimco bond funds into stock funds on February 27, 2020, just one day before Fed Chair Powell’s emergency statement about coronavirus risks. Clarida sold multiple ETFs during the market’s COVID-19 downturn and …
Richard ClaridaFederal Reserve BoardJerome PowellElizabeth Warrenfederal-reservetrading-scandalconflict-of-interestrichard-claridainsider-trading+2 more
President Roosevelt signs the Banking Act of 1935 on August 23, 1935, fundamentally restructuring the Federal Reserve System to centralize monetary policy authority in a reformed Board of Governors in Washington rather than the twelve regional Federal Reserve Banks, which had been dominated by …
Franklin D. RooseveltMarriner EcclesCarter GlassU.S. CongressFederal Reserve Board+1 morefinancial-regulationnew-dealfederal-reservebanking-reformmonetary-policy+1 more
The Federal Reserve Board issues a public warning that banks should not make loans for stock market speculation, expressing concern about the use of Federal Reserve credit to finance the securities boom. The announcement signals regulatory awareness that margin lending and speculative excess pose …
Federal Reserve BoardBenjamin StrongCharles MitchellAndrew MellonNational City Bankregulatory-failurefinancial-speculationbankinginstitutional-capture