Remember when it was only two Federal Reserve Presidents that caused their sudden “retirement” announcements as they were
caught front-running on insider knowledge inadvertently trading within their personal accounts before Federal Reserve monetary policy action? Then it was three? Then it was the Fed Chair himself via open declaration that he and his wife had done some trading via their municipal bond holdings.
And then, supposedly, “That’s all there was to see here, move along, thanks for stopping by. Hope to see you
never again, soon. Is this press conference over yet?!”
Well, it comes to be
found out known that is wasn’t just “Munis” It was $Million+ in stocks also. Funny how that wasn’t mentioned yet, the the Munis in isolation were, hmmmmm? Must have just slipped his mind.
Here’s the headline via the front page of The Drudge Report™, to wit:
Below is the headline to the story via “The American Prospect™”
Jerome Powell Sold More Than a Million Dollars of Stock as the Market Was Tanking
Disclosure documents reveal that the spectacle of Fed officials personally trading stocks extended to the chair himself.Robert Kuttner, The American Prospect, October 18, 2021
Must have slipped his mind during all that questioning about the other ones, I mean, the numbers just keep on rising right? Right? Oooooopsy!
But not to worry you’re always assured, for “They’re in there fighting the good fight for the American people!” After all, that’s what they’ll tell anyone with a camera, microphone or keyboard.
Their brokers, however?
That’s another matter entirely. But not too worry you’re told via the mainstream business/financial media et. al…
“The Fed’s got your back!”
How could you ever doubt either?
© 2021 Mark St.Cyr