(Bloomberg) Federal Reserve Bank of Atlanta President Raphael Bostic made multiple trades leading up to the central bank’s meeting last May, revealing additional transgressions of the central bank’s trading rules that have since been disclosed and are under investigation.Most Read from BloombergSocial Security Benefits Targeted for Cuts by House ConservativesA Goldman Partner’s Sexually Explicit Video Led to Millions in SettlementStock Rally Is Deepening Beyond AI-Fueled Craze: Markets WrapUS
Robert Kaplan went on to say that bank equities have been marked down solely because of their over-investment in the US treasuries, while the credit phase, which is “normally more serious,” is yet to unfold.
The Federal Reserve Bank of Boston announced that Susan Collins, an economist currently at the University of Michigan, will be its new president, marking the first time a Black woman will lead one of the U.S. central bank’s 12 districts.
Federal Reserve Vice Chairman Richard Clarida said he would resign from the central bank on Friday, two weeks before his term on the central bank’s board is set to end.
U.S. Senator Elizabeth Warren, who sits on the Senate committee that oversees the Federal Reserve, has demanded the central bank disclose its leaders' personal investments and ethics guidance given to them, representing more scrutiny of Fed Chair Jerome Powell's handling.