It was revealed on Tuesday 9/7 that
Dallas Fed president Robert Kaplan had made multiple million-dollar trades in his massive portfolio in 2020, which included $1MM+ holdings of stocks such as Apple, Tesla, Amazon, Google Chevron and Boeing, and more.
Subsequently it emerged that Boston Fed president Eric Rosengren was also a Fed daytrader…
Of course there was outrage at this disclosure
Yesterday, 9/8 both said they would sell their individual stock holdings by Sept. 30 amid "ethics concerns"
zh quipped: the Fed thought that it was perfectly ok for Fed presidents to daytrade on material, non-public information for years
Northman Trader quipped:
“NOW we can taper.”
Captain Louis Renault, in “Casablanca” quipped: “I am shocked—shocked—to find that gambling is going on in here! “