Office of Inspector General to review whether Fed officials’ trading activity broke ethics rules or the law

Federal Reserve Chairman Jerome Powell attends the Home Monetary Companies Committee listening to on Capitol Hill in Washington, U.S., September 30, 2021.

Al Drago | Reuters

The Federal Reserve is in discussions with the Workplace of Inspector Common in its evaluate of 2020 buying and selling exercise by a handful of central financial institution officers to find out if these transactions met ethics requirements and didn’t break any legal guidelines.

“As a part of our complete evaluate, we started discussions final week with the Workplace of Inspector Common for the Federal Reserve Board (OIG) to provoke an impartial evaluate of whether or not buying and selling exercise by sure senior officers was in compliance with each the related ethics guidelines and the legislation,” a Fed spokesman informed CNBC. “We welcome this evaluate and can settle for and take applicable actions based mostly on its findings.”

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