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The Fed can’t seem to get a step ahead

February 11, 2022

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New rules the Federal Reserve issued in October to clamp down on stock trading by board governors, regional presidents and senior staff seemed like a neat little bow to resolve a then-burgeoning scandal that, less than a month earlier, played a role in the resignation of leaders at the central bank’s Boston and Dallas satellites.

At least one analyst, at the time, heralded the quick turnaround.

“At the pace that the government usually moves, this is breakneck speed,” Peter Conti-Brown, an associate professor at University of Pennsylvania, told Bloomberg.

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