"The transactions are outlined in a report released Saturday by the U.S. Office of Government Ethics, which reviewed Adriana Kugler's financial disclosures after the Fed referred them to its inspector general earlier this year. Kugler, who unexpectedly stepped down from the Fed board Aug. 8, disclosed more than a dozen individual stock trades, including several made during financial trading "blackout periods" around the time the Federal Reserve's policymaking committee meets to set interest rates and other monetary policy."
"As such, Fed officials are barred from investing in individual stocks, bonds or cryptocurrencies, although they are allowed to invest via diversified investments such as mutual funds. They must provide 45 days' notice of any trade and secure approval of such trades. And they must provide public notice of any trades made in the previous 30 days. It's also forbidden for Fed officials to engage in financial transactions during the blackout period around the eight times during the year when the Fed's policymaking committee meets."
Adriana Kugler disclosed more than a dozen individual stock trades in 2024 that violated Federal Reserve ethics rules, according to a report by the U.S. Office of Government Ethics. The trades included purchases and sales involving Southwest Airlines, Apple, Caterpillar, Fortinet, Palo Alto Networks and Cava Group. The largest transaction was an April purchase of Apple stock valued between $100,000 and $250,000. Some trades occurred during the Fed's blackout periods around policy meetings, and others were within the 45-day notice and public-reporting windows required for Fed officials. Kugler unexpectedly stepped down from the Fed board on Aug. 8 and retired in August.
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