Powell orders a comprehensive review of the code of ethics governing financial transactions

A spokesman for the Federal Reserve said that Federal Reserve Chairman Jerome Powell has ordered a comprehensive review of the ethics rules governing financial holdings and transactions by senior officials of the US central bank. "This review will help identify ways to further tighten those rules and standards, and the board will make changes as necessary, and any changes will be added to the Reserve Bank's code of conduct," he added.

"Because the trust of the American people is essential for the Federal Reserve to carry out our important mission effectively, President Powell late last week directed Board staff to take a fresh, comprehensive look at the ethical rules regarding the holdings and financial activities permitted by the senior Federal Reserve," he explained.