Another powerful group of federal officials are in the
hotseat after details of their personal finances were revealed. While there are
no accusations of wrong-doing (unlike the case of several senators who faced
ethics reviews in 2020), the financial disclosures of several Fed presidents have
prompted a bank-wide smell test. As Thomas Franck reported for CNBC, Federal Reserve Chairman
Jerome Powell has directed the central bank’s staff to review its ethics rules
after 2020 financial disclosures from some regional presidents revealed large
investments and stock trades.