It only took the @federalreserve about 109 years to ban insider trading among employees. pic.twitter.com/1IMvPwBZp2
— Rudy Havenstein, punching up. (@RudyHavenstein) February 18, 2022
— Rudy Havenstein, punching up. (@RudyHavenstein) February 18, 2022
Fed approves rules banning its officials from trading stocks, bonds and also cryptocurrencies
Federal Reserve officials won’t be able to trade a slew of assets including stocks and bonds — as well as cryptocurrencies — under new rules that became formal Friday.
Following up on regulations announced in October, the policymaking Federal Open Market Committee announced that most of the restrictions will take effect May 1.
The rules will cover FOMC members, regional bank presidents and a raft of other officials including staff officers, bond desk managers and Fed employees who regularly attend board meetings. They also extend to spouses and minor children.