Australian shares are poised to open lower. BHP and Rio Tinto fall in New York with iron ore. TD sees RBA lifting 0.75ppt. Follow updates here.
The Federal Reserve’s Inspector General said chairman Jerome Powell and former vice chairman Richard Clarida’s trading activity had not broken any laws or rules, but the probe into the former heads of the Dallas and Boston regional Fed banks remained open.
The Fed imposed sweeping restrictions this year on officials’ investing and trading following an embarrassing ethics scandal, which prompted allegations of corruption and demands from US lawmakers for change. “We found no evidence that you or your spouse had contemporaneous knowledge that the five transactions were executed during the blackout period,” Bialek said. “As such, we found that you did not violate the FOMC trading blackout rule,” he added, referring to the policy-setting Federal Open Market Committee.
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