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Federal Reserve Inspector General Finds Powell, Clarida Didn’t Trade Improperly
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The Federal Reserve’s inspector general said central bank leader Jerome Powell and former second-in-command Richard Clarida didn’t make improper financial trades while serving in their leadership roles, but it did flag some ways their market activities inadvertently conflicted with Fed rules.
“We did not find evidence to substantiate the allegations that former Vice Chair Clarida or [Chairman Jerome Powell] violated laws, rules, regulations, or policies related to trading activities as investigated by our office,” the agency said in its report.
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