This seems to be a storm in a tea cup. New disclosures reveal that Federal Reserve Bank of Atlanta President Raphael Bostic made multiple trades leading up to the FOMC meeting in May 2022
A money manager acting on Bostic’s behalf bought and sold shares of 19 exchange-traded funds on May 2, 2022. This was during the so-called blackout in which officials like Bostic are prohibited from making trades and from speaking publicly
Bostic had transgressed similarly with trades made prior to the March and April 2020 meetings, which he said was carried out by third-party financial advisers with investment discretion within managed account. Bostic cited the same explanation in Thursday’s disclosure.
Info comes via Bloomberg, gated.
