Fed’s Bostic says he improperly disclosed financial transactions, posts corrected disclosures

Atlanta Federal Reserve President Raphael Bostic said on Friday that he’s “publicly posting corrected annual disclosure forms for every year I have been in office as president” because he had improperly disclosed financial transactions. “I want to be clear: at no time did I knowingly authorize or complete a financial transaction based on nonpublic information or with any intent to conceal or sidestep my obligations of transparent and accountable reporting,” he said in a statement. “I sincerely regret if my actions raise questions about my standards, behavior, or motivation, the Federal Reserve Bank of Atlanta’s systems and processes to maintain the public trust, or the commitment of the Federal Reserve to transparency and accountability in fulfilling its mission.” A year ago, the Fed rolled out new rules for the trading and investment activity of top officials and senior staff after some officials drew criticism for being active traders in 2020 while the central bank was providing massive support for the U.S. economy.