What You Need to Know
- Two regional Fed chiefs recently announced their departures following revelations about their trading activity last year.
Senator Elizabeth Warren called on the Securities and Exchange Commission to investigate whether stock transactions by top Federal Reserve officials violated insider trading rules.
“The reports of this financial activity by Fed officials raise serious questions about possible conflicts of interest and reveal a disregard for the public trust,” Warren wrote in a letter to SEC Chairman Gary Gensler.
“They also reflect atrocious judgement by these officials, and an attitude that personal profiteering is more important than the American people’s confidence in the Fed,” she explained.