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Fed to review financial trading rules for officials

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The Federal Reserve is launching a review of its internal rules governing the financial activities of its officials in the wake of news last week that the leaders of the Dallas and Boston regional Fed banks actively traded in financial markets.

“Because the trust of the American people is essential for the Federal Reserve to effectively carry out our important mission, Chair [Jerome] Powell late last week directed Board staff to take a fresh and comprehensive look at the ethics rules around permissible financial holdings and activities by senior Fed officials,” a Fed spokesperson said Thursday.

“This review will assist in identifying ways to further tighten those rules and standards,” the spokesperson said, adding the Federal Reserve “will make changes, as appropriate, and any changes will be added to the Reserve Bank Code of Conduct.”

The Fed’s statement follows the revelation last week that…

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