“Powell's chances have fallen from about 80% in August to 61% as of Monday morning. The sharp decline comes amid an ongoing stock trading controversy that has ensnared several Fed governors and led to the resignations of Boston Fed President Eric Rosengren and Dallas Fed President Robert Kaplan.”Story Third member now implicated amid growing public outcry Federal Reserve Vice Chair Richard Clarida switched between $1 million to $5 million from a bond fund into stock funds a day before Chairman Jerome Powell said coronavirus poses risks to the US economy, according to his financial disclosures from 2020. Forms filed with the government ethics office show that Clarida shifted funds out of a Pimco bond fund on February 27 last year, and bought into the Pimco StocksPlus Fund and the iShares MSCI USA Min Vol Factor exchange-traded fund on the same day, Bloomberg reported on Friday.Story
PS - I’ve played around with the caption - not wanting to allege wrongdoing by Clarida. For better or worse, his trading has drawn suspicion and he’s become part of the larger issue.