WASHINGTON: Top officials at the US Federal Reserve will be banned from holding individual stocks, bonds, cryptocurrencies and certain other investments under new rules adopted on Friday, after controversial trading activity led to high-profile resignations last year. Under the regulations adopted unanimously by the policy setting Federal Open Market Committee (FOMC), central bank leaders including … Read more
WASHINGTON: US inflation is “too high” and the Federal Reserve will make the issue a priority, Lael Brainard, the nominee to take the number-two position at the central bank, said Wednesday. The Fed’s “most important task” is to focus on “getting inflation back down to two per cent while sustaining a recovery that includes everyone,” Brainard … Read more
NEW YORK: Federal Reserve vice chair Richard Clarida announced on Monday he will exit the US central bank early; following questions over his equity trading activity early in the Covid-19 pandemic. Clarida, whose term on the Board of Governors was set to expire on January 31, will instead resign on January 14. He gave no explanation … Read more
