The head of the Federal Reserve Bank of Atlanta disclosed new transactions that violated the US central bank’s trading guidelines, reviving one of the worst scandals to hit the institution.
Raphael Bostic on Thursday revealed transactions involving 19 exchange traded funds made on May 2 of last year, just one day before the Federal Open Market Committee gathered for a two-day policy meeting. At that time, officials were in a so-called blackout period during which public communications were limited and trading prohibited.
Bostic was not a voting member at the gathering, after which the Fed raised its benchmark policy rate by half a percentage point.
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