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  • Jerome Powell Sold More Than a Million Dollars of Stock as the Market Was Tanking

    From prospect.org

    Federal Reserve Chairman Jerome Powell sold between $1 million and $5 million worth of stock from his personal account on October 1, 2020, according to disclosure forms reviewed by the Prospect. Powell’s sale of shares from a Vanguard Total Stock Market Index Fund has not been previously reported. This sale occurred right before the Dow Jones Industrial Average suffered a significant drop. A Fed media relations spokesperson was not available for comment. We will report on any Fed statement on Powell’s trades. Three other senior Fed officials have faced serious criticism for making stock trades during the ... (full story)

can not be.
who would have thought?
I am not acusing Powell for anything. But it stinks that it is not publicly available data which investment people of this calibre hold.
We would all do it if we had the chance, these guys are not angels, but there is a law against insider trading, so why does he not have to answer for it?
I just don't trust this man. He hasn't had a clear line since his appointment at the start of Trump. Initially incomprehensible rate hikes, then rate cuts after Trump interventions. Now hesitant about inflation. Not very trustworthy.
Bravo sir - you are the ultimate market manipulator.
Cycle is changing. I will sell my stocks asap as well.
I make my own luck.
Really and he wouldn't have been buying big when the market rose after the Fed threw money into the market either. He would be too principled to do that without advising the retail market as well. I'm sure he would do that. Really.
we're talking about shares of VTI here ? the sale was on October 1 2020 ? 171.72 - 172.25 that day...
what's the big deal... and why is the author talking about the dow when Powell wasn't in 30 stocks, besides the whole market made a significant drop on 10/28/20 but shot right back up 4 and 5 bars later... anyway, the guy missed out on one whopper of a bull run... to, heck, 234 something...
as a trader, speculator, he's weak handed...
For normal people insider trading is illegal! But for Fed this law does not exist???
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Quoting Hurst
We would all do it if we had the chance, these guys are not angels, but there is a law against insider trading, so why does he not have to answer for it?
No, we wouldn't all do it. These guys are paid top dollars, and hold the most prestigious seats available on earth. It is a most fulfilling job, and if you serve your term maintaining full integrity, the respect you get is priceless. Actually it is quite humiliating for these guys to chase the next million bucks, when they already have lots of it, in the most disgraceful manners. Its pathetic actually.
If Powell needs the Fed behind his back to make a measly million in stock markets, he doesn't deserve the chair to begin with.
No wonder market is so bullish despite sluggish economy..... thanks to mr.powell
I still think he's trustworthy ... odds just changed on that leaked info
Brainard is $ bearish could be the preferred choice.
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how jeromi or any financial decision maker do stock or forex trading? isn't it conflict of interest? so funny.
Say something meaningful or Silence!!
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  • Posted: Oct 18, 2021 3:15pm
  • Submitted by:
     Newsstand
    Category: Entertainment News
    Comments: 14  /  Views: 3,331