LOCK HIM UP: Federal Reserve Vice Chair Made Big Trade on Stocks and Bonds Just Before Fed’s Pandemic Statement
Richard Clarida, the Vice-Chair of the Federal Reserve, traded money from a bond fund to a stock fund only a day before the Fed made their pandemic statement in 2020.
The statement flagged possible actions the Fed could take if the pandemic worsened.
Federal Reserve Vice Chair Richard Clarida traded between $1 million and $5 million out of a bond fund into stock funds one day before Chair Jerome Powell issued a statement flagging possible policy action as the pandemic worsened, his 2020 financial disclosures show.
Clarida’s trades, described in forms filed with the government ethics office, show the shifting of the funds out of a Pimco bond fund on Feb.
