Powell Says Wasn’t Aware of Kaplan, Rosengren Trading

The transcript discusses the importance of public trust in the Federal Reserve and the need for a comprehensive review of ethics rules for Fed officials. It outlines current rules, including restrictions on asset ownership and trading, and highlights the necessity for changes to maintain public trust.

What was the main reason for the Fed to begin a comprehensive review of ethics rules?

• To align with international standards

• To ensure the trust of the American people

• To increase the salaries of Fed officials

• To reduce the workload of Fed officials

Which of the following is NOT a specific restriction mentioned for Fed officials?

• Trading during FOMC meetings

• Ownership of bank securities

• Unlimited trading of all assets

• Regular disclosure of financial activities

When are Fed officials restricted from trading financial assets?

• During weekends

• At the end of the fiscal year

• During public holidays

• During FOMC meetings

What is the speaker's view on the current framework for maintaining public trust?

• It is completely adequate

• It is too strict

• It needs significant improvements

• It is irrelevant to public trust

What action is the Fed planning to take in response to the inadequacy of the current framework?

• Eliminate all trading restrictions

• Reduce the number of Fed officials

• Conduct a thorough review and tighten rules

• Increase the number of FOMC meetings