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. Central bank officials acted after disclosures last year that several senior Fed officials had been trading individual stocks and stock funds just before the time the central bank adopted sweeping measures aimed at boosting the economy in the early days of the Covid spread.
Source: WSJ