Independent review launched into trading activity by senior Fed officials - reports

Fed will ‘take appropriate actions’ based on findings

A US government watchdog, which has independent oversight of the Federal Reserve, has launched a review into whether trades undertaken by some central bank officials last year complied with ethics rules, according to reports.

The FT reported that, in a statement, the Fed said: "As part of our comprehensive review, we began discussions last week with the Office of Inspector General for the Federal Reserve Board (OIG) to initiate an independent review of whether trading activity by certain senior officials was in compliance with both the relevant ethics rules and the law. "We welcome the [OIG] review and will accept and take appropriate actions based on its findings." Fed signals tapering of bond buying in 'tantalisingly vague' message It comes after US Senator Elizabeth Warren wrote to Gary Gensler, chai...