Central Banks
Bostic Reveals Trading Missteps, Adding to Fed Ethics Scandal
- Powell directs Fed watchdog to review Bostic’s disclosures
- Atlanta Fed’s board expresses its support for Bostic
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Another top Federal Reserve official revealed he violated central bank policy on financial transactions, leading Chair Jerome Powell to open a probe in the latest chapter of a broader Fed ethics scandal.
Atlanta Fed President Raphael Bostic said Friday that his asset managers made trades during restricted periods and transactions had been inadvertently omitted from his financial disclosures. The regional bank also posted the corrected disclosures -- going back to 2017, the year he became chief.