Africa Business Radio

The United States Federal Reserve is reviewing the ethics policies that govern the financial holdings and activities of its senior officials in the wake of recent disclosures that two regional Fed presidents engaged in extensive trading last year.Financial disclosure forms show that Robert Kaplan, president of the Dallas Federal Reserve Bank, in 2020 traded millions of dollars of stock in companies such as Apple, Amazon, and Google, while Eric Rosengren, president of the Boston Fed, traded in stocks and real estate investment trusts.Both Kaplan and Rosengren said last week that their trades were permitted under the Fed’s ethics rules. They however said they would sell their holdings at the end of this month and place the money in index funds, which track a wide range of securities, or in cash.