Posted on 11/16/2025 10:42:28 AM PST by E. Pluribus Unum
Summary
NEW YORK, Nov 15 (Reuters) - Former Federal Reserve Governor Adriana Kugler, who abruptly resigned this summer, had multiple financial transactions in violation of the central bank's ethics rules, government filings showed on Saturday, with the matter referred to the Fed’s in-house watchdog for investigation.
Kugler in late July had sought a waiver to deal with investing rules transgressions by her spouse - including trades in individual stocks and other transactions around Fed policy meetings - and was denied, a Fed official said.
She did not attend the July 30-31 interest-rate-setting Federal Open Market Committee meeting and announced her resignation the following day, August 1.
Kugler, who had joined the Fed in 2023, first saw issues emerge last year when she reported purchases of stock, including Apple and Southwest Airlines, by her spouse that were forbidden under central bank rules governing investing activity of members as well as their families.
Kugler and a law firm she listed on her disclosure form for “pro bono” services did not immediately respond to inquiries from Reuters.
A document made public Saturday by the Office of Government Ethics flagged more problems. It detailed trades that happened on or around FOMC meetings, in violation of rules that prohibit such investing. Other trades included direct purchases of stocks, which is also not allowed.
Kugler’s trading activity has been referred to the central bank’s Inspector General, while her final financial disclosure form was not certified by the Fed’s ethics officer, an unusual development.
The Saturday filing noted that Kugler tied the trading issues to her spouse and said “her spouse did not intend to violate any rules or policies.”
(Excerpt) Read more at reuters.com ...
Obama-Biden-Harris administration appointment. Nuff said.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.