Fed's Bostic Reveals 'Inadvertent' Trading Violations

The transcript discusses Raphael Bostic, the Atlanta Fed president, who amended his financial disclosure forms after discovering omitted securities transactions. These omissions involved trades made on his behalf, violating Fed policy by holding more than $50,000 in Treasury funds. Bostic claims the omissions were inadvertent, due to reliance on incorrect statements from a third-party firm managing his investments. The Fed's Inspector General is investigating the matter. The transcript also mentions similar past issues faced by other Fed officials, highlighting the potential consequences and public scrutiny Bostic may face.

What actions did Raphael Bostic take regarding his financial disclosure forms?

What was the reason for the omission of trades from Bostic's financial disclosure forms?

What steps did the Federal Reserve take in response to the trading irregularities?

How did Bostic's situation compare to that of Richard Clarida and Eric Rosengren?

What was the outcome of the board's statement regarding Bostic's explanation?