Fed Chief Powell OWNED Securities Central Bank Was BUYING During Covid Relief Program (Report)
Federal Reserve Chairman Jerome Powell held between $1.25-$2.5mn of municipal bonds in family trusts, which he is said to have no control of.
The Fed bought $21.3bn in munis last year – INCLUDING one from the state of Illinois purchased by his family trust in 2016, CNBC declared on Friday.
The news comes after a public outcry about Federal Reserve officials owning and trading individual securities.
Powell ordering a review of ethics rules for the central bank just 24 hours before CNBC’s revelation aww q q!
A Fed ethics officer told CNBC that the holdings did not violate govt rules – although the central bank’s code of conduct states officials “should be careful to avoid any dealings or conduct that might convey an appearance of conflict.”
