Assessment: Fed policy can be—and these days, usually is—instrumental in pushing up stock prices and real estate prices through monetary inflation.
Mises Wire: Fed Chaiman Jerome Powell has decided the Fed ought to “review” its ethics policies after it was revealed that high-ranking personnel at the Fed were actively trading stocks even as the Fed was busy pulling the levers on monetary policy.
“He who is greedy for gain troubles his own house,
But he who hates bribes will live.” Proverbs 15:27
Federal Reserve Chairman Jerome Powell directed staff to review the central bank’s ethics rules for appropriate financial activities after disclosures that several senior central bank officials made multiple multimillion-dollar stock trades in 2020, while others held significant investments. …
Last week, financial disclosures filed by the Fed’s 12 regional presidents revealed some had actively traded in 2020, while others held million-dollar financial positions without making changes to their portfolios.
Specifically, Dallas Fed President Robert Kaplan made numerous trades worth $1 million or more last year. Read More