The Inspector General report on Bostic’s finances is the third and likely last to detail issues with the investing and trading activities of some current and former Fed policymakers
Atlanta Fed eral Reserve President Raphael Bostic violated U.S. central bank policies governing how officials could trade and invest, the Fed ’s in-house watchdog said on Wednesday, while noting that he did not trade based on confidential information.
In a statement after the release of the report, the Atlanta Fed on behalf of its board of directors said “we take these issues seriously and the full board will meet to carefully discuss the report’s details further.” The U.S. central bank’s Board of Governors is reviewing the report, a spokesperson for the Washington-based body said.
Fed Chair Jerome Powell and Richard Clarida, the then-Fed vice chair, also faced questions about their own investing activities, though both were later cleared of wrongdoing. The report on Bostic had long been expected given he had already acknowledged in filings a series of errors in his financial disclosures.
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