Fed’s Powell Scrutinized for Owning Bonds of the Same Type the Central Bank B...
As a number of Federal Reserve presidents have been criticized for their 2020 stock moves, Fed chairman Jerome Powell has been cast into the limelight for owning $1.5 million municipal bonds like the ones the U.S. central bank purchased in 2020 during the pandemic. All Eyes Are On Jerome Powell’s Municipal Bond Portfolio Three days ago, the topic of senior Federal Reserve members making multi-million-dollar stock deals in 2020 caused senator Elizabeth Warren to write a letter criticizing the bank member’s ethics, and chairman Jerome Powell said he would initiate an....
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On Friday, Jerome Powell spoke at the annual Jackson Hole Economic Symposium and the Federal Reserve chair explained that the U.S. central bank is focused on fighting the country’s red-hot inflation. Powell stressed at the event that strict monetary policy is necessary, and his commentary hinted that the Fed won’t hit the brakes on monetary tightening until inflation is tamed. Fed Chair Jerome Powell Says US Central Bank’s Inflation Policy Could Bring ‘Some Pain to Households and Businesses’ Jerome Powell had a lot to say on Friday while the Fed’s....
The U.S. Federal Reserve raised the benchmark interest rate on Wednesday and the increase was the biggest rate hike in two decades. “Inflation is much too high,” the central bank’s chair Jerome Powell said after the Fed raised rates by 0.5%. FOMC Decides to Hike Rate by 3/4 to 1% — Increase Was the largest Rate Hike in 2 Decades On May 4, 2022, the U.S. central bank raised the benchmark interest rate in order to curb rising inflation. The Federal Open Market Committee (FOMC) explained on Wednesday in a press release that the 12 FOMC members “decided to....
Powell testified before the House Financial Services Committee on Thursday on matters related to the economy and the Covid-19 pandemic. Federal Reserve Chairman Jerome Powell believes the federal government needs to regulate the cryptocurrency market, but that a blanket ban on Bitcoin (BTC) and other digital assets is not in the cards.Speaking in response to a question from Republican Representative Ted Budd of North Carolina, Powell clarified that a China-style ban on digital assets was not something he’s considering. Rep. Budd’s question came in response to Powell raising doubts about....
The Federal Reserve chairman Jerome Powell has directed his staff to start an ethics inquiry into the financial activities of Fed members, as a number of senior central bank officials are being questioned for their investments. Reports indicated last week that the president of the Dallas Federal Reserve branch, Robert Kaplan, benefitted from “multiple million-dollar-plus stock trades” in 2020.
Fed Presidents Profit From Multiple Million-Dollar Stock Deals
Members of the Federal Reserve seem to have a mess to deal with as politicians and the media have called out a....
The U.S. does not want cash to go extinct in the presence of a CBDC, according to the Fed’s chairman. Many expect that a time could soon come when central bank digital currencies, or CBDCs, replace physical dollars once and for all. Comments from United States Federal Reserve Chairman Jerome Powell, however, indicate that this may not be the case.The chairman’s comments were filmed and later shown at an event in Switzerland on Thursday, according to an article from Bloomberg. The Committee on Payments and Market Infrastructures put on the event. In his talk, Powell mentioned that the U.S.....