BREAKING NEWS: Dallas Federal Reserve Bank President Robert Kaplan, and Boston Fed President Eric Rosengren resign after trading in securities despite playing key roles in deciding U.S monetary policy, via REUTERS.
This news can explain why so much market manipulation has been allowed. Leaders have been allowing illicit activities to persist in the markets for their own financial gain.
How soon will retail investors be allowed to participate in a fair market?
Welcome to Franknez.com – today’s blog post will be brief. I want to uncover more of the manipulation occurring in our markets today.
Lets get started!
How The Fed Took Control Of The Economy
“The central bank is turning into a hedge fund”, says David Rosenberg. This statement alone is quite shocking. David said this about a year ago when the Feds began to pump more money into the markets.
Will people be held accountable? Possibly to a certain degree. I believe we will see more people walk out with millions to billions of dollars instead of serving prison time.
Regardless, our country needs a new generation of delegates and people in power.
Both Kaplan and Rosengren are under high scrutiny for buying and selling millions of dollars in individual stocks. According to WSJ, 11 out of 12 Fed banks disclosed the financial profiles of their leaders.
Is The Fed Fit To Serve Its People?
Fed chairman Jerome Powell noted his displeasure with the trading controversy, saying “no one is happy about it”. Jerome vowed new rules would be put in place.
Both Kaplan and Rosengren said they would sell all their individual stock on September 30th. Kaplan and Rosengren both actively traded stocks and other investments while also helping to set monetary policy.
I mean, we can’t let two people give the Feds as a whole a bad rep, can we? Be sure to subscribe to the blog for more market and finance news.
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