Sen. Elizabeth Warren (D-Mass.) blamed Federal Reserve Inspector General (IG) Mark Bialek for a lack of “competent oversight” during a Wednesday hearing while discussing the issue of potential insider trading by Fed officials.
During a Senate Banking Subcommittee on Economic Policy hearing, Warren questioned Bialek about suspicious trades involving Federal Reserve Chair Jerome Powell and former Vice Chair Richard Clarida that occurred a few years back. She pointed out that Powell and Clarida’s actions were not in compliance with Fed rules but there has been no corrective or disciplinary action. In July 2022, the IG cleared Powell and Clarida, insisting the duo did not make any improper trades while at their posts….