Jerome Powell, chairman of the Federal Reserve, said on Tuesday that the Fed was reviewing transactions made by regional bank governors to ensure they were in line with central bank regulations, adding that the rules would be reviewed and improved.。
In response to a question from population Senator Rafael Warnock at a Senate Banking Committee hearing, Powell said: "We are still carefully reviewing transactions to ensure that transactions comply with our rules and laws." "even if these transactions seem to comply with existing rules, it just tells you that the problem is the rules and practices and the disclosure that needs to be improved."
Two Fed officials, Eric Rosengren, chairman of the Boston Fed, and Robert Kaplan, chairman of the Dallas Fed, announced their retirement here on Monday because their investment deals in 2020 were called into question because of the extraordinary actions taken by the Fed to support the market and the economy.