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Fed Chairman Amid Stock Market Questioning

The president of the Federal Reserve (Fed) of the United States, Jerome Powell, was in the middle of questions about important stock transactions carried out during the crisis, revelations that fall at a bad time for the leader who hopes to know whether or not he will have a second term in front of the organism.

Powell sold a portion of his assets on the stock exchange on October 1, 2020, and obtained between $ 1 million and $ 5 million of liquidity, according to official documents available online.

The withdrawals (of liquidity) were intended to cover family expenses“Said a spokesman for the Fed.

Several officials of the Fed were questioned about their stock transactions, and two of them recently resigned, while the ethical rules of the body are reviewed.

The titles sold by Powell were not concentrated in any particular sector. But those deals, made just before a Wall Street crash, fuel questions about conflicts of interest.

These sales were revealed by the progressive site The American Prospect, which asks not to renew his mandate, while Democrats are divided on the issue.

The vice president of the Fed, Richard Clarida, also declared transactions of a significant amount carried out in February 2020, at the beginning of the coronavirus pandemic, just before the Fed lowered its rates to sustain the economy.

The mandate of Powell expires in February.

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