Stories

Lacking safeguards to prevent abuse and oversight, the Federal Reserve should ban personal trading by senior officials.

It’s impossible for them to trade stocks or bonds and uphold their “special responsibility” to protect the Fed’s “integrity, dignity, and reputation.” Every trade is tantamount to an insider trade.

“That undermines and erodes the trust in the integrity of the Federal Reserve,” said John Pelissero, a senior scholar at the Markkula Center for Applied Ethics at Santa Clara University.

John Pelissero, senior scholar at the Markkula Center for Applied Ethics, quoted by The Boston Globe.