Congress Should Probe Fed Officials, Ban Trading, Ossoff Says
- Georgia Democrat says transactions undermine public trust
- Investment transactions by Fed officials bring scrutiny
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Congress should conduct its own investigation into securities trades by Federal Reserve officials and consider legislation banning such transactions, Senator Jon Ossoff, a member of the Banking Committee, said.
“At minimum, having these senior leaders of the Federal Reserve personally trading stocks, around the time of major monetary policy announcements, and just in advance of major monetary announcements, significantly undermines public confidence in the Fed, and it may be worse than that,” the Georgia Democrat said in an interview for Bloomberg Television’s “Balance of Power With David Westin.” “Congress does need to look at it, because it may be a serious ethical issue and it’s our responsibility to oversee.”