Fed senior staff don’t vote on monetary policy, but many are actively involved in compiling data, doing research, and briefing Fed leaders to help them analyze the economy, financial markets and the central banks’ policy options.
The disclosure forms provide only ranges for the values of the transactions, rather than the exact amounts. Ms. Hancock, also noted a purchase of between $250,001 and $500,000 in Advanced Micro Devices Inc. stock on Feb. 12 and a sale of between $100,001 and $250,000 of those shares on Feb. 28—a day when stocks marked their biggest weekly losses since 2008, and Mr. Powell released a statement signaling a possible monetary policy response.
Mr. Stevens said, via a Fed spokesperson, that the transactions listed on his 2020 disclosure form were almost entirely tied to a spouse’s inheritance, and he didn’t direct that trading. He also said he apprised the spouse’s financial adviser about Fed-related trading restrictions, and the holdings were "rebalanced" to comply with central bank rules.
Ms. Hancock said, via the spokesperson, that her spouse made the iShares and AMD trades, and she didn’t have any control over those transactions. The Fed spokesperson said the presentation of the disclosure forms is determined by the U.S. Office of Government Ethics, which doesn’t offer filers a way to say whether they or a spouse was responsible for a given transaction in the final form. The Fed is required to use this system when its senior staff file disclosures.
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