Powell: Fed trades under review

Illegal or not, the perception of a Federal Reserve Bank President buying and selling millions of dollars worth of stocks and investments, while setting monetary policy is bad optics. #ethics #perception #federalreserve #frb #dallas #boston

Big changes are happening at the Federal Reserve. Two Fed presidents announced Monday that they are stepping down. The news comes amid a controversy surrounding investments some Fed officials made and trading activity they conducted while they were actively working on stimulus measures to help markets function during difficult times. Fed officials insist they have done nothing wrong but Fed Chair Jerome Powell vowed that changes would be made “as a consequence of this” to tighten the Fed’s rules and standards. And it's not great timing, either: The Fed is still trying to help the economy get over the Covid-19 pandemic and Powell will deliver his report to Congress about how it's going on Tuesday. CNBC's Jeff Cox breaks down what we know so far. https://cnb.cx/3CW0HRX #FederalReserve #economy #markets