Atlanta Fed President Bostic Violated Trading Rules, Watchdog Finds

A report by the Fed’s inspector general revealed Raphael Bostic’s trades breached central bank policies but found no evidence of insider trading.

The Fed's Office of Inspector General confirmed that Bostic's money manager made trades during restricted blackout periods from March 2018 to March 2023.
Bostic did not trade based on confidential information, and trades were executed by a third-party manager without his direct involvement.
The investigation found that Bostic failed to disclose some trades and created an appearance of a conflict of interest.
The Atlanta Fed and the Board of Governors are reviewing the report to determine any further actions.
The controversy follows previous trading scandals involving other senior Fed officials, leading to stricter investment rules implemented in 2021.