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Office of Inspector General to review whether Fed officials’ trading activity broke ethics rules or the law


Jerome Powell, Chairman of the Federal Reserve, attends the hearing by House Financial Services Committee on Capitol Hill, Washington, U.S.A, September 30, 2021.

Al Drago | Reuters

As part of its examination of 2020 trading activity conducted by some central bank officials, the Federal Reserve has been in contact with the Office of Inspector General to ensure that those transactions were in compliance with ethics and laws.

CNBC was informed by a Fed spokesperson that “As part of the comprehensive review”, we started discussions with the Office of Inspector General of the Federal Reserve Board (OIG), to start an independent review of trading activity conducted by senior officials in accordance with both the applicable ethics rules and law.” We welcome the review, and we will take any appropriate action based upon its findings.

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