Tag: Federal Reserve

Fed Watchdog Recommends More Staff Be Covered by Trading Rules – Bloomberg

The Federal Reserve’s internal watchdog recommended that personal trading rules be extended to more staff after discovering that hundreds with access to confidential information are not covered. Chair Jerome Powell agreed with the recommendations in a letter accompanying the report, which was released Monday. The Fed in 2021 beefed up its rules governing the investment and trading of senior officials…

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Fed Unveils Crypto Team to Keep Tabs on Assets

The Federal Reserve is assembling a new crypto-focused team to help ensure the central bank can stay on top of developments in the asset class. Michael Barr, the Fed’s vice chair for supervision, said Thursday the group would help bolster oversight abilities. He also warned about potential dangers of stablecoins and said that the central bank was working on additional…

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A Watchdog Report Absolves Financial Transactions by 2 Fed Officials – The New York Times

A review from the Federal Reserve’s watchdog found that trades made by two top officials in 2019 and 2020, when the central bank was especially active in financial markets, violated neither the law nor central bank policies. The Office of Inspector General report, released Thursday, cleared both Chair Jerome H. Powell and Richard Clarida, the former vice chair. Both had…

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Former Crypto Adviser Michael Barr Confirmed as Federal Reserve Vice Chair

Michael Barr, a former Ripple adviser, is set to assume one of the most important U.S. regulatory roles after winning Senate confirmation to be vice chairman for supervision at the Federal Reserve. Barr, who was a key Treasury Department official during the administration of former President Barack Obama, will take over as the leading U.S. banking watchdog, where he’ll have…

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Fed Imposes New Restrictions on Officials’ Investment Activities – WSJ

Federal Reserve Chairman Jerome Powell imposed sweeping personal-investing restrictions on senior officials in a bid to address a stock-trading controversy that prompted the resignation of two reserve bank presidents and hurt his prospects of being reappointed to lead the central bank next year. The Fed on Thursday said the new rules will restrict senior officials’ trading to broad-based investment vehicles…

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