MNI BRIEF: BOJ To Adjust Easy Policy Cautiously - Nakamura

MNI: PBOC Net Drains CNY153 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1879 Thurs; -1.82% Y/Y

MNI BRIEF: Fed's Daly Says No 'Urgency' To Lower Rates

MNI BRIEF: Powell Says US Is 'Far' From Fiscal Dominance

MNI BRIEF: US Firms Wary of Tariff-Related Inflation - Fed

MNI: FRANCE OCT INDUSTRIAL PRODUCTION -0.1% M/M, -0.6% Y/Y

MNI: GERMANY OCT FACTORY ORDERS -1.5% M/M

MNI: SWEDEN FLASH NOV CPIF +1.9% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Powell On Whether There Was Reputational Damage Following Fed Trading

FED

Was there reputational damage to the Fed as a result of Fed presidents trading?

  • A: "It's too soon to say what the reputational damage is. ... we need to make sure we do whatever it takes to make sure nothing like this happens again. I like to think we made a good start on this."
  • "We have to write the rules, which we are doing as quickly as possible.... We need more people. We are going to have to resource this much more significantly here at the Board. And we are going to need appropriate technology. The Fed system has more than 30,000 employees. Far fewer of them will be covered by this. But the senior officers who will be covered by this will have to have technology access and it's going to have to work efficiently. There is a lot of work to do to implement."
  • "The system was what it was, it proved to have weaknesses in it... What can we do? We are where we are, it happened, and we have to deal with it forthrightly and transparently, and own it."
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.