Today, Revolving Door Project Executive Director Jeff Hauser called on Federal Reserve Board of Governors Chair Jerome Powell to place Boston and Dallas bank presidents Eric Rosengren and Robert Kaplan on administrative leave while the Federal Reserve investigates possible insider trading. Read Hauser’s letter to Powell here. Hauser also issued this statement about Fed Chair Powell:
“It really shouldn’t surprise anyone that a former Carlyle Group executive — a firm whose whole profit strategy is based on exploiting insider connections in the federal government — hasn’t prioritized ethics and oversight in running the nation’s largest stockpile of potentially market-moving information. The Fed’s outdated ethics policy of course precedes Powell, but failing to monitor for unethical activity during its massive COVID-19 response must fall on his shoulders.”
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