(Bloomberg) -- Federal Reserve Chair Jerome Powell has ordered a “fresh and comprehensive” examination of the central bank’s ethics rules around permissible financial holdings and activities by senior Fed officials.
“This review will assist in identifying ways to further tighten those rules and standards,” a Fed spokeswoman said in a statement on Thursday. “The Board will make changes, as appropriate, and any changes will be added to the Reserve Bank Code of Conduct.”
Powell gave the order late last week, the Fed said. The move followed revelations about investments and trading earlier in the week by two of the central bank’s senior officials that critics said showed the need to increase Fed accountability and oversight.
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