Following the resignation of two Federal Reserve regional Presidents last week, Kaplan and Rosengren, there is news over the weekend of market moves from Vice-Chair Clarida.
- Clarida traded out of a bond fund into stock funds one day before Chair Powell issued a statement indicating potential policy action due to the worsening of the COVID-19 pandemic back in 2020
A Fed spokesman has denied anything untoward:
- “Vice Chair Clarida’s financial disclosure for 2020 shows transactions that represent a pre-planned rebalancing to his accounts, similar to a rebalancing he did and reported in April 2019”
Meanwhile, also over the weekend, media is alight with revelations in the “Pandora Papers” of the financial dealings of world leaders and the wealthy. Tax dodging, shady deals, you name it. News of this is all over the place, sample link to get you started: