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Atlanta Fed's Bostic Violated Trading Rules, US Central Bank Watchdog Says
Federal Reserve Bank of Atlanta President Raphael Bostic's trading and investing broke central bank rules, the Fed's in-house watchdog said on Wednesday. Bostic created the appearance he acted on confidential information and the appearance of a conflict of interest, in violation of the Atlanta Fed's code of conduct, according to a report by the Office of Inspector General for the central bank. However, the report said investigators found no evidence that Bostic in reality used inside information about Fed deliberations or had financial conflicts of interest. The Fed official relied on investment managers and did not ... (full story)