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CANADIAN OCT FLASH RETAIL SALES +0.7%, 4TH STRAIGHT INCREASE

MNI China Daily Summary: Friday, November 22

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EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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Question On Recent Ethics Incidents At The Fed

FED
  • Q: Re ethics incidents with Bostic and Bullard
  • A: The public's trust is really the Fed's most important assets, anytime a policy maker violates the rules we risk undermining that trust. We take that seriously. We had a group discussion at the start of the FOMC meeting on those standards, accountability, ethics. I would say our new investment program is up now and running and it was through that the problems w Bostic's disclosures were discovered. The system is really good, it worked here.
  • We all recommitted to each other and to this institution to hold ourselves to the highest standards and avoid these problems in the future. Referred Bostic to the inspector general, he has the ability to do investigations.
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