Federal Reserve watchdog: No evidence found that Atlanta Fed President traded on insider information

Jinshi data news on September 12th, the internal watchdog of the Federal Reserve sharply criticized the behavior of Raphael Bostic, president of the Federal Reserve Bank of Atlanta, for violating the Fed’s investment restrictions, but stated that there was no evidence that he used confidential information to trade. The Fed’s Inspector General’s Office confirmed in a report released on Wednesday, dated September 4, that Bostic’s fund manager traded on his behalf during the Federal Open Market Committee’s blackout period, and he failed to disclose some of the trades. The inspector general also stated that according to the FOMC blackout rules, these trades “appear to have been based on FOMC confidential information” and “appear to have a conflict of interest.” The inspector general stated that it had concluded a nearly two-year investigation and had referred the matter to the Fed’s Board of Governors “for any further action they deem appropriate.”