Fed Watchdog Finds Bostic Violated Trading Rules in 2022 & 2023, No Evidence of Insider Trading

Sep 11, 2024, 06:08 PM

The Federal Reserve's internal watchdog has found that Atlanta Fed President Raphael Bostic violated the central bank's trading rules in 2022 and 2023 and created the appearance of acting on confidential information and a conflict of interest. The report, released by the Fed's Inspector General, noted that while Bostic's actions appeared to breach the Federal Open Market Committee (FOMC) blackout rule, there was no evidence that he traded based on inside information. The Federal Reserve Board is currently reviewing the Inspector General's report to determine the next steps.