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Fed Chief Powell, other officials owned securities central bank bought during Covid pandemic

Fed Chief Powell, other officials owned securities central bank bought during Covid pandemic



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9 Comments

  1. How can we expect some of the brightest financial minds to go from being profitable bankers to setting policy without trying to find a way to profit off of it.

    This is too much power IMO and we cannot expect participants to be ethical.

  2. tldr; Amid an outcry about Federal Reserve officials owning and trading individual securities, an in-depth look at officials’ financial disclosures found three who last year held assets of the same type the Fed itself was buying, including Chairman Jerome Powell. None of these holdings or transactions appeared to violate the Fed’s code of conduct, but they raise further questions about the central bank’s conflict of interest policies.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  3. Ironically, every single asset on the Fed’s balance sheet is worthless. If it weren’t, the Fed wouldn’t have had to buy it. They’re listed at 100 cents on the dollar, but they are all worthless. When that reality enters the market… 💥📉😰

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