Recent financial trades by Federal Reserve Chair Jerome Powell and former Vice Chair Richard Clarida were determined by the central bank’s independent watchdog to have not violated any laws or ethics rules.
The Office of the Inspector General said it is closing its investigation into the pair’s investment activities from 2019 to 2021.
“We did not find evidence to substantiate the allegations that former Vice Chair Clarida or you violated laws, rules, regulations, or policies related to trading activities as investigated by our office,” Inspector General Mark Bialek said in a July 11 letter (pdf) to Powell. The letter was released on the OIG website on July 14….
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