Sep. 8 at 2:11 AM
Two Federal Reserve officials, Michelle Bowman and Jerome Powell, had meetings or attended events with private banking executives during restricted “blackout” periods surrounding FOMC meetings, according to newly released calendars. Bowman met with the president of the Massachusetts Bankers Association ahead of the June 16-17 FOMC meeting, while Powell attended a Bank of New York Mellon reception on June 9.
Bowman also attended a private Bank of America dinner hours after the June FOMC meeting, prompting Senator Elizabeth Warren to call for an investigation. Bowman said she did not discuss monetary policy and had complied with all applicable FOMC and ethics rules.
The Fed’s blackout rules generally prohibit officials from publicly discussing economic or monetary policy views during the period before and immediately after FOMC meetings.
$BAC $SPX $IWM $QQQ