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MANY central banks are starting to withdraw the emergency stimulus they introduced to fend off last year’s pandemic recession.
WASHINGTON: U.S. Federal Reserve Chair Jerome Powell on Thursday promised to redouble efforts to find "diverse candidates" to replace two high-profile officials who resigned this week after criticism of their securities trading, as the central bank tried to regroup from a blow to its typically staid, technocratic image.
WASHINGTON: U.S. consumer and public interest groups on Monday kept up the pressure on Federal Reserve Chair Jerome Powell to impose stricter ethics rules on Fed officials, after two Fed bank presidents resigned because of controversial investing activity last year.
WASHINGTON: U.S. Federal Reserve Chair Jerome Powell said on Wednesday he was displeased with the active investing carried out by two Fed regional bank presidents and pledged the central bank's ethics rules will be tightened after a thorough review.
WASHINGTON: Federal Reserve Chair Jerome Powell has ordered a sweeping review of the ethics rules governing financial holdings and dealings by senior officials at the U.S. central bank, a Fed spokesperson said on Thursday.
Media reports this week that two of the Federal Reserve's 12 regional bank presidents were active traders has some of the central bank's most vocal critics questioning the rules that allowed them to engage in the transactions in the first place.
WASHINGTON: Two Federal Reserve officials said on Thursday they would sell their individual stock holdings by the end of the month to address the appearance of conflicts of interest.
WASHINGTON: Major stock indexes slid and oil posted its fourth straight day of declines as investors grappled with mixed economic data and considered the economic impact of the ongoing spread of the Delta coronavirus variant
HONG KONG: Asian shares stumbled on Tuesday, rattled by concerns over China's regulations for its once-freewheeling internet sector and the worldwide spike in COVID-19 infections driven by the Delta variant.
REGULATORS are getting anxious about how mushrooming “stablecoins” – mostly US dollar-pegged crypto tokens – could sow instability in wider financial markets more directly than already hyper-volatile cryptocurrencies like bitcoin.