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The Federal Reserve's internal watchdog has found that Atlanta Fed President Raphael Bostic violated the central bank's trading rules in 2022 and 2023 and created the appearance of acting on confidential information and a conflict of interest. The report, released by the Fed's Inspector General, noted that while Bostic's actions appeared to breach the Federal Open Market Committee (FOMC) blackout rule, there was no evidence that he traded based on inside information. The Federal Reserve Board is currently reviewing the Inspector General's report to determine the next steps.
🔵 ATLANTA FED'S BOSTIC VIOLATED TRADING RULES, US CENTRAL BANK WATCHDOG SAYS Atlanta Federal Reserve President Raphael Bostic violated U.S. central bank policies governing how officials could trade and invest, the Fed's in-house watchdog said on Wednesday, while noting that he… https://t.co/mlVnfcL3WB
With the cost of goods and services experiencing a slight decline in August, the Federal Reserve may consider cutting its key interest rate soon. https://t.co/ABh9xc1UEj
Fed Watchdog Found No Proof Bostic Traded on Inside Information https://t.co/x0w1Kdk6xB via @economics @ctorres @Jonnelle @boes_ @chrisjcondon