Fed Chair Powell Sold Up To $500K of Securities on Same Day as Bank Stress Test Results

Centimillionaire Powell continues to obstruct disclosure of trade dates as FED buys more than $200 Billion in USTs and MBS in the month of May into historic inflation

The Office of Government Ethics quietly dropped Fed Chair Jay Powell’s annual financial disclosure for his 2021 transactions over the long holiday weekend. Surely, that wasn’t intentional. Surely, Wall Street-owned corporate media will cover it. If you couldn’t tell, we’re being sarcastic. You can review the disclosure yourself here: https://extapps2.oge.gov/201/Presiden.nsf/PAS+Index/C449CA3633F7780285258850002EC7B0/$FILE/Jerome-H-Powell-2022-278.pdf

But we’ll give you the quick download, just in case the New York Times, Wall Street Journal, Reuters, Bloomberg and all the other Fed shills can’t afford the ink given the important things they cover (like how we’ve already hit “peak inflation” or how strong the economy really is even if it doesn’t feel that way to you). Suffice it to say, after the sprawling Fed insider trading scandal last year, centimillionaire Jay Powell isn’t about to come clean and own up to his own trading and disclosure violations.

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Also of note, Powell disclosed(!) a large securities sale on June 24, 2021 — up to $500,000 in a Goldman Sachs proprietary fund (that invests primarily in what else – muni bonds). So what happened on that date you might wonder? Well, it was the exact same day that the Fed released “stress tests” for U.S. megabanks as required by the Dodd-Frank Act! Outside of the FOMC blackout period, it’s hard to imagine a more inappropriate day for a Fed official to make such a large securities transaction.