There Is a Problem at the Fed, Says Sen. Warren

The transcript discusses allegations of corruption among top officials at the Federal Reserve, highlighting specific cases of trading by Robert Kaplan, Eric Rosengren, and Richard Clarida during the economic turmoil of 2020. These actions raise concerns about conflicts of interest and insider trading, as Fed officials have access to nonpublic information. The transcript emphasizes the importance of maintaining public trust in the Federal Reserve, especially given its significant role in the global economy and the unprecedented measures taken in 2020 to support financial markets.

What is the primary responsibility of Federal Reserve officials as discussed in the first section?

• To legislate new economic policies

• To manage local banks

• To make decisions affecting the global economy

• To ensure personal financial gain

Which Federal Reserve official was involved in significant stock trades during 2020?

• Jerome Powell

• Ben Bernanke

• Robert Kaplan

• Janet Yellen

What type of investments did Eric Rosengren engage in during the economic turmoil of 2020?

• Cryptocurrency

• Real estate investment trusts

• Foreign exchange

• Commodities

What was the significant action taken by Richard Clarida just before a public announcement by Fed Chair Powell?

• Invested in cryptocurrency

• Sold real estate

• Purchased foreign currency

• Traded bonds for stocks

What is a major concern regarding the trading activities of Federal Reserve officials during 2020?

• Insufficient trading volume

• Potential conflicts of interest

• Lack of market knowledge

• Excessive public disclosure