The Federal Reserve will ban policy makers and other senior officials from buying individual stocks and bonds and will also restrict active trading after an ethics scandal led to the departure of two regional presidents and undermined confidence in the central bank.
Some politicians think they’ve found a silver bullet for the impasse over the debt limit, except the bullet is made of platinum: Mint a $1 trillion coin, token of all tokens, and use it to flood the treasury with cash and drive Republicans crazy.
Following revelations that Federal Reserve officials made trades in financial assets while the Fed was taking extraordinary efforts to “stimulate” the economy, Federal Reserve Chairman Jerome Powell ordered a review of the Fed’s ethics rules.
A new report from the Chicago Federal Reserve on business conditions in the central bank’s seventh district paints a picture of slowing growth and historically high price pressures, with labor cost inflation at a record high.
Friday’s lackluster non-farm payrolls report, which showed American employers adding far fewer jobs in August than expected, is likely to cool enthusiasm among Federal Reserve policymakers for a quick roll-back of stimulus, some experts believe.