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2021-10-04

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A timeline of the Federal Reserve's trading scandal<blockquote>美联储交易丑闻时间表</blockquote>

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As two heads of the 12 reserve banks, both were instrumental in engineering the Fed’s response to the financial fallout from the COVID-19 pandemic.<blockquote>2021年9月，媒体报道强调了达拉斯联储主席罗伯特·卡普兰和波士顿联储主席埃里克·罗森格伦在2020年进行的几笔大型金融交易。作为 12 家储备银行的两位行长，两人都在策划美联储应对 COVID-19 大流行病带来的金融影响方面发挥了重要作用。</blockquote> Rosengren and Kaplan would promise not to do any more trading during their tenure as senior Fed officials, but would later announce early retirements as the public fallout expanded.<blockquote>罗森格伦和卡普兰承诺在担任美联储高级官员期间不再进行任何交易，但后来随着公众影响的扩大，他们将宣布提前退休。</blockquote> Fed Vice Chairman Richard Clarida would also likely catch scrutiny forrotating millions of dollars out of bond fund and into stock funds in February 2020— right before the Fed started slashing interest rates.<blockquote>美联储副主席理查德·克拉里达 (Richard Clarida) 也可能在 2020 年 2 月将数百万美元从债券基金转移到股票基金——就在美联储开始降息之前。</blockquote> At the direction of Fed Chairman Jerome Powell, the Federal Reserve Board is now in the process of a system-wide review regarding its ethics practices. Questions have been raised as to why members of the policy-setting Federal Open Market Committee (FOMC), with immense power to move markets, would ever be allowed to personally profit on trades.<blockquote>在美联储主席杰罗姆·鲍威尔的指导下，美联储目前正在对其道德实践进行全系统审查。人们质疑，为什么制定政策的联邦公开市场委员会（FOMC）拥有推动市场的巨大权力，会被允许在交易中个人获利。</blockquote> “No one is happy,” Powell told the press on Sept. 22. “No one on the FOMC is happy to be in this situation, to be having these questions raised. It's something we take very, very seriously.”<blockquote>“鲍威尔9月22日对媒体说：”没有人高兴。“联邦公开市场委员会的任何人都不高兴处于这种境地，不高兴被提出这些问题。我们对此非常非常认真。”</blockquote> Peter Conti-Brown, a professor at the University of Pennsylvania who has written about Fed independence, told Yahoo Finance that the entire situation is a “calamity and a scandal” for the Fed.<blockquote>宾夕法尼亚大学教授彼得-孔蒂-布朗（Peter Conti-Brown）曾撰写过关于美联储独立性的文章，他告诉雅虎财经，整个情况对美联储来说是一场 “灾难和丑闻”。</blockquote> “I think central bankers should never be under a cloud of suspicion that they’re advocating for policies that will enrich them,” Conti-Brown said, adding that he would support a wholesale ban on any senior Fed official holding any individual stocks.<blockquote>“孔蒂-布朗说：”我认为，央行行长们永远不应该受到怀疑，认为他们在倡导能让他们致富的政策。他补充说，他将支持全面禁止任何美联储高级官员持有任何个股。</blockquote> San Francisco President Mary Daly, whose financial disclosures showed no individual stock holdings, told reporters Sept. 29 that she acknowledges the American public’s concern that the Fed’s existing ethics rules are “not sufficient.”<blockquote>旧金山美联储主席玛丽-戴利（Mary Daly）的财务披露没有显示她持有任何个人股票，她9月29日对记者说，她承认美国公众担心美联储现有的道德规则 “不够充分”。</blockquote> <img src=\"https://static.tigerbbs.com/041dbdec77d0aa8b865a34c363c30aba\" tg-width=\"705\" tg-height=\"504\" width=\"100%\" height=\"auto\">Boston Fed President Eric Rosengren (left) and Dallas Fed President Robert Kaplan (right) announced early retirements. Credit: Getty and Reuters<blockquote>波士顿联储主席埃里克·罗森格伦（左）和达拉斯联储主席罗伯特·卡普兰（右）宣布提前退休。图片来源：盖蒂和路透社</blockquote> Here’s a timeline of all the events related to the central bank’s ethics debacle (as of Wednesday, September 29, 2021):<blockquote>以下是与央行道德崩溃相关的所有事件时间表（截至 2021 年 9 月 29 日星期三）：</blockquote> September 7, 2021:The Wall Street Journalreportsthat Kaplan made multiple stock trades in 2020, with several $1 million dollar-plus stakes taken in Apple, Delta Air Lines, Occidental Petroleum, and iShares Floating Rate Bond ETFs, among others.<blockquote>2021年9月7日：《华尔街日报》报道称，卡普兰在 2020 年进行了多次股票交易，持有苹果、达美航空公司、西方石油公司和 iShares 浮动利率债券 ETF 等价值超过 100 万美元的股份。</blockquote> September 8, 2021:Bloombergreportsthat Rosengren made multiple purchases and sales in REITs and other securities in 2020, during which he was publicly warning of contagion in real estate markets. The Boston Fed said the trades were not done via a blind trust and were “consistent” with ethics rules.<blockquote>2021年9月8日：彭博社报道称，罗森格伦在 2020 年多次买卖房地产投资信托基金和其他证券，期间他公开警告房地产市场的蔓延。波士顿联储表示，这些交易不是通过盲目信托进行的，并且 “符合 ”道德规则。</blockquote> September 9, 2021:Federal Reserve Banks of Boston and Dallas simultaneously issue statements with nearly identical language, both noting that their financial transactions complied with the Fed’s ethics rules. The statements said both presidents would dump their holdings by Sept. 30 (with reinvestment into diversified index funds or cash savings), alongside a promise that they would not be active in those accounts as long as they remained presidents.<blockquote>2021年9月9日：波士顿和达拉斯联邦储备银行同时发表了措辞几乎完全相同的声明，均指出其金融交易符合美联储的道德规则。声明称，两位总统将在 9 月 30 日之前抛售其持有的股份（再投资于多元化指数基金或现金储蓄），并承诺只要他们仍然担任总统，就不会活跃在这些账户中。</blockquote> September 15, 2021:Sen. Elizabeth Warren (D-Mass.)writes to all 12 Federal Reserve banksasking them to, within 60 days, impose a ban on the ownership and trading of individual stocks by senior officials.<blockquote>2021年9月15日：参议员伊丽莎白·沃伦（马萨诸塞州民主党）致信所有 12 家美联储银行，要求它们在 60 天内禁止高级官员拥有和交易个股。</blockquote> September 16, 2021:Federal Reserve Board issues a statement via a spokesperson noting that Powell directed Board staff the week prior to “take a fresh and comprehensive look at the ethics rules around financial holdings and activities by senior Fed officials.” Fed notes that its rules on personal financial practices are “stricter than those that apply to Congress.”<blockquote>2021年9月16日：美联储董事会通过发言人发表声明指出，鲍威尔在前一周指示董事会工作人员 “重新全面审视美联储高级官员金融控股和活动的道德规则”。美联储指出，其关于个人理财行为的规定 “比适用于国会的规定更严格”。</blockquote> September 22, 2021:Powellfields questions from the press, insisting he was not aware of the trading until after both presidents had filed disclosures (which are filed on an annual basis). Powell reiterates the Fed's existing restrictions, such as not being able to trade immediately before and during a policy-setting meeting. But the Fed chief admits “no one is happy” about the situation.<blockquote>2021年9月22日：鲍威尔菲尔德接受媒体提问，坚称他直到两位总统提交披露文件（每年提交一次）后才知道这笔交易。鲍威尔重申了美联储现有的限制，例如不能在政策制定会议之前和期间立即进行交易。但美联储主席承认 “没有人对这种情况感到高兴”。</blockquote> Powell said his personal financial interests includes ownership of municipal securities that he \"froze\" in 2019, holdings that he says were not tradedduring the Fed’s emergency measures in 2020.<blockquote>鲍威尔说，他的个人财务利益包括他在 2019 年 “冻结 ”的市政证券所有权，他说这些证券在 2020 年美联储采取紧急措施期间没有进行交易。</blockquote> September 27, 2021:Before the market open, Boston Fed President Eric Rosengren announces he will pull forward his retirement by nine months, citing the “worsening of a kidney condition.” Rosengren, who was originally scheduled to retire in June 2022, makes no mention of his REIT trades and says his last day will be September 30, 2021.<blockquote>2021年9月27日：开盘前，波士顿联储主席埃里克-罗森格伦（Eric Rosengren）以 “肾脏病情恶化 ”为由宣布将退休时间提前九个月。原定于 2022 年 6 月退休的罗森格伦没有提及他的房地产投资信托基金交易，并表示他的最后一天将是 2021 年 9 月 30 日。</blockquote> After the market close, Dallas Fed President Robert Kaplan says he will step down October 8, 2021, noting that his financial dealings risk \"becoming a distraction to the Federal Reserve’s execution” of its monetary policy.<blockquote>收盘后，达拉斯联储主席罗伯特-卡普兰（Robert Kaplan）表示，他将于 2021 年 10 月 8 日卸任，并指出他的金融交易有可能 “分散美联储执行 ”其货币政策的注意力。</blockquote> September 28, 2021:Powell answers questions from Congress, telling the Senate Banking Committee that the Fed is “also looking carefully at the trading that was done to make sure that it’s in compliance with our rules and the law.\"<blockquote>2021年9月28日：鲍威尔在回答国会提问时告诉参议院银行委员会，美联储 “也在仔细审查交易，以确保其符合我们的规则和法律”。</blockquote> A Securities and Exchange Commission spokesperson tells Yahoo Finance it \"does not comment on the existence or nonexistence of a possible investigation.\"<blockquote>美国证券交易委员会发言人告诉雅虎财经，它“不对是否存在可能的调查发表评论”。</blockquote> September 30, 2021:Rosengren retires as Boston Fed President, with First Vice President Kenneth Montgomery stepping up to serve as interim president. A committee of Boston Fed board directors (not affiliated with regulated banks or financial institutions) will select a permanent replacement, who would need to be approved by the Fed Board.<blockquote>2021年9月30日：罗森格伦从波士顿联储主席职位上退休，第一副主席肯尼斯·蒙哥马利接任临时主席。波士顿联储董事会董事委员会（不隶属于受监管银行或金融机构）将选出一名永久替代者，该替代者需要得到联储董事会的批准。</blockquote> October 1, 2021:Bloombergreportsthat Fed Vice Chairman Richard Clarida traded between $1 million and $5 million out of a Pimco bond fund and into two stock funds. The shift happened on February 27, 2020, a day before Powell issued arare, impromptu statementreiterating the Fed's support of the economy. The transactions were disclosed via agovernment ethics filing. A Fed spokesman told Bloomberg the transactions \"represent a pre-planned rebalancing to his accounts.\"<blockquote>2021年10月1日：彭博社报道称，美联储副主席理查德·克拉里达 (Richard Clarida) 将 100 万至 500 万美元从太平洋投资管理公司 (Pimco) 债券基金和两只股票基金中交易。这一转变发生在 2020 年 2 月 27 日，也就是鲍威尔发表 arare 即兴声明的前一天，重申美联储对经济的支持。这些交易是通过政府道德文件披露的。美联储发言人告诉彭博社，这些交易“代表了对他账户的预先计划的再平衡”。</blockquote> October 8, 2021:Kaplan retires as Dallas Fed President, with First Vice President Meredith Black delaying her impending retirement to serve as interim president. A committee of Dallas Fed board directors (not affiliated with regulated banks or financial institutions) will select a permanent replacement, who would need to be approved by the Fed Board.<blockquote>2021年10月8日：卡普兰从达拉斯联储主席职位上退休，第一副主席梅雷迪思·布莱克推迟了她即将退休的时间，以担任临时主席。达拉斯联储董事会董事委员会（不隶属于受监管银行或金融机构）将选出一名永久替代者，该替代者需要得到联储董事会的批准。</blockquote>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>A timeline of the Federal Reserve's trading scandal<blockquote>美联储交易丑闻时间表</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nA timeline of the Federal Reserve's trading scandal<blockquote>美联储交易丑闻时间表</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nfinance.yahoo2021-10-04 21:23\n\n</h4>\n</header>\n<article>\nA reputational crisis at the Federal Reserve has led to the resignation of two senior officials within the central bank, raising questions about the strength of the Fed’s guardrails around personal financial interests.<blockquote>美联储的声誉危机导致央行两名高级官员辞职，引发了人们对美联储围绕个人财务利益的防护栏强度的质疑。</blockquote> In September 2021, media reports highlighted several large financial transactions carried out by Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren during 2020. As two heads of the 12 reserve banks, both were instrumental in engineering the Fed’s response to the financial fallout from the COVID-19 pandemic.<blockquote>2021年9月，媒体报道强调了达拉斯联储主席罗伯特·卡普兰和波士顿联储主席埃里克·罗森格伦在2020年进行的几笔大型金融交易。作为 12 家储备银行的两位行长，两人都在策划美联储应对 COVID-19 大流行病带来的金融影响方面发挥了重要作用。</blockquote> Rosengren and Kaplan would promise not to do any more trading during their tenure as senior Fed officials, but would later announce early retirements as the public fallout expanded.<blockquote>罗森格伦和卡普兰承诺在担任美联储高级官员期间不再进行任何交易，但后来随着公众影响的扩大，他们将宣布提前退休。</blockquote> Fed Vice Chairman Richard Clarida would also likely catch scrutiny forrotating millions of dollars out of bond fund and into stock funds in February 2020— right before the Fed started slashing interest rates.<blockquote>美联储副主席理查德·克拉里达 (Richard Clarida) 也可能在 2020 年 2 月将数百万美元从债券基金转移到股票基金——就在美联储开始降息之前。</blockquote> At the direction of Fed Chairman Jerome Powell, the Federal Reserve Board is now in the process of a system-wide review regarding its ethics practices. Questions have been raised as to why members of the policy-setting Federal Open Market Committee (FOMC), with immense power to move markets, would ever be allowed to personally profit on trades.<blockquote>在美联储主席杰罗姆·鲍威尔的指导下，美联储目前正在对其道德实践进行全系统审查。人们质疑，为什么制定政策的联邦公开市场委员会（FOMC）拥有推动市场的巨大权力，会被允许在交易中个人获利。</blockquote> “No one is happy,” Powell told the press on Sept. 22. “No one on the FOMC is happy to be in this situation, to be having these questions raised. It's something we take very, very seriously.”<blockquote>“鲍威尔9月22日对媒体说：”没有人高兴。“联邦公开市场委员会的任何人都不高兴处于这种境地，不高兴被提出这些问题。我们对此非常非常认真。”</blockquote> Peter Conti-Brown, a professor at the University of Pennsylvania who has written about Fed independence, told Yahoo Finance that the entire situation is a “calamity and a scandal” for the Fed.<blockquote>宾夕法尼亚大学教授彼得-孔蒂-布朗（Peter Conti-Brown）曾撰写过关于美联储独立性的文章，他告诉雅虎财经，整个情况对美联储来说是一场 “灾难和丑闻”。</blockquote> “I think central bankers should never be under a cloud of suspicion that they’re advocating for policies that will enrich them,” Conti-Brown said, adding that he would support a wholesale ban on any senior Fed official holding any individual stocks.<blockquote>“孔蒂-布朗说：”我认为，央行行长们永远不应该受到怀疑，认为他们在倡导能让他们致富的政策。他补充说，他将支持全面禁止任何美联储高级官员持有任何个股。</blockquote> San Francisco President Mary Daly, whose financial disclosures showed no individual stock holdings, told reporters Sept. 29 that she acknowledges the American public’s concern that the Fed’s existing ethics rules are “not sufficient.”<blockquote>旧金山美联储主席玛丽-戴利（Mary Daly）的财务披露没有显示她持有任何个人股票，她9月29日对记者说，她承认美国公众担心美联储现有的道德规则 “不够充分”。</blockquote> <img src=\"https://static.tigerbbs.com/041dbdec77d0aa8b865a34c363c30aba\" tg-width=\"705\" tg-height=\"504\" width=\"100%\" height=\"auto\">Boston Fed President Eric Rosengren (left) and Dallas Fed President Robert Kaplan (right) announced early retirements. Credit: Getty and Reuters<blockquote>波士顿联储主席埃里克·罗森格伦（左）和达拉斯联储主席罗伯特·卡普兰（右）宣布提前退休。图片来源：盖蒂和路透社</blockquote> Here’s a timeline of all the events related to the central bank’s ethics debacle (as of Wednesday, September 29, 2021):<blockquote>以下是与央行道德崩溃相关的所有事件时间表（截至 2021 年 9 月 29 日星期三）：</blockquote> September 7, 2021:The Wall Street Journalreportsthat Kaplan made multiple stock trades in 2020, with several $1 million dollar-plus stakes taken in Apple, Delta Air Lines, Occidental Petroleum, and iShares Floating Rate Bond ETFs, among others.<blockquote>2021年9月7日：《华尔街日报》报道称，卡普兰在 2020 年进行了多次股票交易，持有苹果、达美航空公司、西方石油公司和 iShares 浮动利率债券 ETF 等价值超过 100 万美元的股份。</blockquote> September 8, 2021:Bloombergreportsthat Rosengren made multiple purchases and sales in REITs and other securities in 2020, during which he was publicly warning of contagion in real estate markets. The Boston Fed said the trades were not done via a blind trust and were “consistent” with ethics rules.<blockquote>2021年9月8日：彭博社报道称，罗森格伦在 2020 年多次买卖房地产投资信托基金和其他证券，期间他公开警告房地产市场的蔓延。波士顿联储表示，这些交易不是通过盲目信托进行的，并且 “符合 ”道德规则。</blockquote> September 9, 2021:Federal Reserve Banks of Boston and Dallas simultaneously issue statements with nearly identical language, both noting that their financial transactions complied with the Fed’s ethics rules. The statements said both presidents would dump their holdings by Sept. 30 (with reinvestment into diversified index funds or cash savings), alongside a promise that they would not be active in those accounts as long as they remained presidents.<blockquote>2021年9月9日：波士顿和达拉斯联邦储备银行同时发表了措辞几乎完全相同的声明，均指出其金融交易符合美联储的道德规则。声明称，两位总统将在 9 月 30 日之前抛售其持有的股份（再投资于多元化指数基金或现金储蓄），并承诺只要他们仍然担任总统，就不会活跃在这些账户中。</blockquote> September 15, 2021:Sen. Elizabeth Warren (D-Mass.)writes to all 12 Federal Reserve banksasking them to, within 60 days, impose a ban on the ownership and trading of individual stocks by senior officials.<blockquote>2021年9月15日：参议员伊丽莎白·沃伦（马萨诸塞州民主党）致信所有 12 家美联储银行，要求它们在 60 天内禁止高级官员拥有和交易个股。</blockquote> September 16, 2021:Federal Reserve Board issues a statement via a spokesperson noting that Powell directed Board staff the week prior to “take a fresh and comprehensive look at the ethics rules around financial holdings and activities by senior Fed officials.” Fed notes that its rules on personal financial practices are “stricter than those that apply to Congress.”<blockquote>2021年9月16日：美联储董事会通过发言人发表声明指出，鲍威尔在前一周指示董事会工作人员 “重新全面审视美联储高级官员金融控股和活动的道德规则”。美联储指出，其关于个人理财行为的规定 “比适用于国会的规定更严格”。</blockquote> September 22, 2021:Powellfields questions from the press, insisting he was not aware of the trading until after both presidents had filed disclosures (which are filed on an annual basis). Powell reiterates the Fed's existing restrictions, such as not being able to trade immediately before and during a policy-setting meeting. But the Fed chief admits “no one is happy” about the situation.<blockquote>2021年9月22日：鲍威尔菲尔德接受媒体提问，坚称他直到两位总统提交披露文件（每年提交一次）后才知道这笔交易。鲍威尔重申了美联储现有的限制，例如不能在政策制定会议之前和期间立即进行交易。但美联储主席承认 “没有人对这种情况感到高兴”。</blockquote> Powell said his personal financial interests includes ownership of municipal securities that he \"froze\" in 2019, holdings that he says were not tradedduring the Fed’s emergency measures in 2020.<blockquote>鲍威尔说，他的个人财务利益包括他在 2019 年 “冻结 ”的市政证券所有权，他说这些证券在 2020 年美联储采取紧急措施期间没有进行交易。</blockquote> September 27, 2021:Before the market open, Boston Fed President Eric Rosengren announces he will pull forward his retirement by nine months, citing the “worsening of a kidney condition.” Rosengren, who was originally scheduled to retire in June 2022, makes no mention of his REIT trades and says his last day will be September 30, 2021.<blockquote>2021年9月27日：开盘前，波士顿联储主席埃里克-罗森格伦（Eric Rosengren）以 “肾脏病情恶化 ”为由宣布将退休时间提前九个月。原定于 2022 年 6 月退休的罗森格伦没有提及他的房地产投资信托基金交易，并表示他的最后一天将是 2021 年 9 月 30 日。</blockquote> After the market close, Dallas Fed President Robert Kaplan says he will step down October 8, 2021, noting that his financial dealings risk \"becoming a distraction to the Federal Reserve’s execution” of its monetary policy.<blockquote>收盘后，达拉斯联储主席罗伯特-卡普兰（Robert Kaplan）表示，他将于 2021 年 10 月 8 日卸任，并指出他的金融交易有可能 “分散美联储执行 ”其货币政策的注意力。</blockquote> September 28, 2021:Powell answers questions from Congress, telling the Senate Banking Committee that the Fed is “also looking carefully at the trading that was done to make sure that it’s in compliance with our rules and the law.\"<blockquote>2021年9月28日：鲍威尔在回答国会提问时告诉参议院银行委员会，美联储 “也在仔细审查交易，以确保其符合我们的规则和法律”。</blockquote> A Securities and Exchange Commission spokesperson tells Yahoo Finance it \"does not comment on the existence or nonexistence of a possible investigation.\"<blockquote>美国证券交易委员会发言人告诉雅虎财经，它“不对是否存在可能的调查发表评论”。</blockquote> September 30, 2021:Rosengren retires as Boston Fed President, with First Vice President Kenneth Montgomery stepping up to serve as interim president. A committee of Boston Fed board directors (not affiliated with regulated banks or financial institutions) will select a permanent replacement, who would need to be approved by the Fed Board.<blockquote>2021年9月30日：罗森格伦从波士顿联储主席职位上退休，第一副主席肯尼斯·蒙哥马利接任临时主席。波士顿联储董事会董事委员会（不隶属于受监管银行或金融机构）将选出一名永久替代者，该替代者需要得到联储董事会的批准。</blockquote> October 1, 2021:Bloombergreportsthat Fed Vice Chairman Richard Clarida traded between $1 million and $5 million out of a Pimco bond fund and into two stock funds. The shift happened on February 27, 2020, a day before Powell issued arare, impromptu statementreiterating the Fed's support of the economy. The transactions were disclosed via agovernment ethics filing. A Fed spokesman told Bloomberg the transactions \"represent a pre-planned rebalancing to his accounts.\"<blockquote>2021年10月1日：彭博社报道称，美联储副主席理查德·克拉里达 (Richard Clarida) 将 100 万至 500 万美元从太平洋投资管理公司 (Pimco) 债券基金和两只股票基金中交易。这一转变发生在 2020 年 2 月 27 日，也就是鲍威尔发表 arare 即兴声明的前一天，重申美联储对经济的支持。这些交易是通过政府道德文件披露的。美联储发言人告诉彭博社，这些交易“代表了对他账户的预先计划的再平衡”。</blockquote> October 8, 2021:Kaplan retires as Dallas Fed President, with First Vice President Meredith Black delaying her impending retirement to serve as interim president. A committee of Dallas Fed board directors (not affiliated with regulated banks or financial institutions) will select a permanent replacement, who would need to be approved by the Fed Board.<blockquote>2021年10月8日：卡普兰从达拉斯联储主席职位上退休，第一副主席梅雷迪思·布莱克推迟了她即将退休的时间，以担任临时主席。达拉斯联储董事会董事委员会（不隶属于受监管银行或金融机构）将选出一名永久替代者，该替代者需要得到联储董事会的批准。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://finance.yahoo.com/news/a-timeline-of-the-federal-reserves-trading-scandal-104415556.html\">finance.yahoo</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://finance.yahoo.com/news/a-timeline-of-the-federal-reserves-trading-scandal-104415556.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136399695","content_text":"A reputational crisis at the Federal Reserve has led to the resignation of two senior officials within the central bank, raising questions about the strength of the Fed’s guardrails around personal financial interests.\nIn September 2021, media reports highlighted several large financial transactions carried out by Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren during 2020. As two heads of the 12 reserve banks, both were instrumental in engineering the Fed’s response to the financial fallout from the COVID-19 pandemic.\nRosengren and Kaplan would promise not to do any more trading during their tenure as senior Fed officials, but would later announce early retirements as the public fallout expanded.\nFed Vice Chairman Richard Clarida would also likely catch scrutiny forrotating millions of dollars out of bond fund and into stock funds in February 2020— right before the Fed started slashing interest rates.\nAt the direction of Fed Chairman Jerome Powell, the Federal Reserve Board is now in the process of a system-wide review regarding its ethics practices. Questions have been raised as to why members of the policy-setting Federal Open Market Committee (FOMC), with immense power to move markets, would ever be allowed to personally profit on trades.\n“No one is happy,” Powell told the press on Sept. 22. “No one on the FOMC is happy to be in this situation, to be having these questions raised. It's something we take very, very seriously.”\nPeter Conti-Brown, a professor at the University of Pennsylvania who has written about Fed independence, told Yahoo Finance that the entire situation is a “calamity and a scandal” for the Fed.\n“I think central bankers should never be under a cloud of suspicion that they’re advocating for policies that will enrich them,” Conti-Brown said, adding that he would support a wholesale ban on any senior Fed official holding any individual stocks.\nSan Francisco President Mary Daly, whose financial disclosures showed no individual stock holdings, told reporters Sept. 29 that she acknowledges the American public’s concern that the Fed’s existing ethics rules are “not sufficient.”\nBoston Fed President Eric Rosengren (left) and Dallas Fed President Robert Kaplan (right) announced early retirements. Credit: Getty and Reuters\nHere’s a timeline of all the events related to the central bank’s ethics debacle (as of Wednesday, September 29, 2021):\nSeptember 7, 2021:The Wall Street Journalreportsthat Kaplan made multiple stock trades in 2020, with several $1 million dollar-plus stakes taken in Apple, Delta Air Lines, Occidental Petroleum, and iShares Floating Rate Bond ETFs, among others.\nSeptember 8, 2021:Bloombergreportsthat Rosengren made multiple purchases and sales in REITs and other securities in 2020, during which he was publicly warning of contagion in real estate markets. The Boston Fed said the trades were not done via a blind trust and were “consistent” with ethics rules.\nSeptember 9, 2021:Federal Reserve Banks of Boston and Dallas simultaneously issue statements with nearly identical language, both noting that their financial transactions complied with the Fed’s ethics rules. The statements said both presidents would dump their holdings by Sept. 30 (with reinvestment into diversified index funds or cash savings), alongside a promise that they would not be active in those accounts as long as they remained presidents.\nSeptember 15, 2021:Sen. Elizabeth Warren (D-Mass.)writes to all 12 Federal Reserve banksasking them to, within 60 days, impose a ban on the ownership and trading of individual stocks by senior officials.\nSeptember 16, 2021:Federal Reserve Board issues a statement via a spokesperson noting that Powell directed Board staff the week prior to “take a fresh and comprehensive look at the ethics rules around financial holdings and activities by senior Fed officials.” Fed notes that its rules on personal financial practices are “stricter than those that apply to Congress.”\nSeptember 22, 2021:Powellfields questions from the press, insisting he was not aware of the trading until after both presidents had filed disclosures (which are filed on an annual basis). Powell reiterates the Fed's existing restrictions, such as not being able to trade immediately before and during a policy-setting meeting. But the Fed chief admits “no one is happy” about the situation.\nPowell said his personal financial interests includes ownership of municipal securities that he \"froze\" in 2019, holdings that he says were not tradedduring the Fed’s emergency measures in 2020.\nSeptember 27, 2021:Before the market open, Boston Fed President Eric Rosengren announces he will pull forward his retirement by nine months, citing the “worsening of a kidney condition.” Rosengren, who was originally scheduled to retire in June 2022, makes no mention of his REIT trades and says his last day will be September 30, 2021.\nAfter the market close, Dallas Fed President Robert Kaplan says he will step down October 8, 2021, noting that his financial dealings risk \"becoming a distraction to the Federal Reserve’s execution” of its monetary policy.\nSeptember 28, 2021:Powell answers questions from Congress, telling the Senate Banking Committee that the Fed is “also looking carefully at the trading that was done to make sure that it’s in compliance with our rules and the law.\"\nA Securities and Exchange Commission spokesperson tells Yahoo Finance it \"does not comment on the existence or nonexistence of a possible investigation.\"\nSeptember 30, 2021:Rosengren retires as Boston Fed President, with First Vice President Kenneth Montgomery stepping up to serve as interim president. A committee of Boston Fed board directors (not affiliated with regulated banks or financial institutions) will select a permanent replacement, who would need to be approved by the Fed Board.\nOctober 1, 2021:Bloombergreportsthat Fed Vice Chairman Richard Clarida traded between $1 million and $5 million out of a Pimco bond fund and into two stock funds. The shift happened on February 27, 2020, a day before Powell issued arare, impromptu statementreiterating the Fed's support of the economy. The transactions were disclosed via agovernment ethics filing. A Fed spokesman told Bloomberg the transactions \"represent a pre-planned rebalancing to his accounts.\"\nOctober 8, 2021:Kaplan retires as Dallas Fed President, with First Vice President Meredith Black delaying her impending retirement to serve as interim president. A committee of Dallas Fed board directors (not affiliated with regulated banks or financial institutions) will select a permanent replacement, who would need to be approved by the Fed Board.","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2884,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":26,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/820378630"}