Disclosures report that at least two of the US Federal Reserve’s 12 regional bank presidents (Kaplan and Rosengren) used inside knowledge of central bank policy decisions to enrich themselves through millions of dollars in individual stock trades since 2020. The profits were on top of the $183,000 average annual salary received (2019 number). After public criticism from a few high-profile commentators, the offending actors issued statements saying they would sell all of their individual stock holdings by the end of the month to avoid “even the appearance of any conflict of interest.” So far, there is no requirement ... (full story)