Page 45 - Cornerstone Macro News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The US Federal Reserve has banned top officials from buying individual stocks and bonds, as well as limit active trading, after an embarrassing scandal that led two officials to resign and clouded Fed Chairman Jerome Powell’s path to renomination. “These tough new rules raise the bar high in order to assure the public we serve that all of our senior officials maintain a single-minded focus on the public mission of the Federal Reserve,” Powell said in a statement on Thursday. The Fed’s action marks its most significant response yet to recent revelations over trading last year by a few t...

The Federal Reserve will ban top officials from buying individual stocks and bonds as well as limit active trading after an embarrassing scandal that led two officials to resign and clouded Chair Jerome Powell’s path to renomination.

Gov. Randal Quarles is no longer vice chair for supervision, and the Federal Reserve Board will make bank regulatory policy only when multiple members reach consensus. Observers expect inaction until the Biden administration fills key leadership posts.

US job growth in September was the slowest this year, signalling a tempering of the labour market recovery and complicating a potential decision by the Federal Reserve to begin scaling back monetary support before year-end.

Nonfarm payrolls increased 194,000 last month, a report from the US Department of Labor showed Friday.