(C) Reuters. FILE PHOTO: U.S. Senator Sherrod Brown (D-OH) speaks at a meet and greet on his “Dignity of Work” tour in Concord, New Hampshire, U.S., February 9, 2019. REUTERS/Elizabeth Frantz/File Photo
(Reuters) – The head of the U.S. Senate Banking Committee on Tuesday said he plans to introduce legislation that would ban ownership of individual stocks by Federal Reserve officials in the aftermath of revelations that two reserve bank presidents had been active investors.
Democratic Senator Sherrod Brown of Ohio told Fed Chair Jerome Powell of his intent to introduce the legislation at the start of a hearing Brown’s committee was holding to review actions by the Fed and U.S. Treasury to shield the economy during the coronavirus pandemic.
Senate banking chief plans bill to address Fed officials’ stock trades
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.