Two Federal Reserve officials step down amid ethics questions
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 28 September 2021
⏱️ 10 minutes
🧾️ Download transcript
Summary
Read a transcript of this episode on FT.com
https://www.ft.com/content/1505ec37-b798-4016-8f80-d959bd6eac9c
Two senior Federal Reserve officials whose trading activity prompted the US central bank to launch an ethics review on Monday announced they will resign, and today Fed chair Jay Powell will join other central bank chiefs at a European Central Bank forum. Plus, where does Germany go after its razor-thin election? The FT’s Europe editor, Ben Hall, explains that it could be a while before there is a clear picture for the country’s government.
Regional Fed chiefs step down after securities trading controversy
https://www.ft.com/content/b899a77f-9853-4d20-ad84-21848b7e7ce2
ECB official and OECD warn of rising inflation risks
https://www.ft.com/content/55300c7b-ab06-40c4-a5f4-ed02ddb31374
Germany’s ‘kingmaker’ parties to start talks after narrow SPD election win
https://www.ft.com/content/fe539f99-8311-4ad7-96c0-ebc30ed9c1a0
Hollywood agency CAA acquiring rival ICM to create movie powerhouse
https://www.ft.com/content/fd6a3976-540e-49e7-bf1d-2ac272573033?
Join FT journalists on October 4 for a subscriber-only webinar on the outcome of Germany’s historic election and its implications for Germany, Europe and the rest of the world. Register free at ft.com/germanwebinar
The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.
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Transcript
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| 0:00.0 | Good morning from the Financial Times. |
| 0:01.6 | Today is Tuesday, September 28th, and this is your FT News Briefing. |
| 0:05.9 | Two regional Federal Reserve chiefs yesterday said they're stepping down, and central |
| 0:13.6 | bankers around the world are gathering today virtually at an ECB forum, and the hot topic |
| 0:18.8 | will likely be inflation. |
| 0:20.6 | Plus, Germany's elections are over, and now its political parties are wrangling to form |
| 0:25.2 | a coalition government. |
| 0:26.8 | Don't hold your breath on that happening anytime soon, though. |
| 0:29.8 | It's worth remembering that in 2017, it took 171 days to form a government, so it could |
| 0:36.5 | run well into next year. |
| 0:39.4 | Mark Filippino, here's the news. |
| 0:41.4 | You need to start your day. |
| 0:47.2 | OK, so this is probably not what Federal Reserve chair G Powell wants to be dealing with as |
| 0:52.4 | he manages U.S. monetary policy at this critical point in time, but yesterday, two of his |
| 0:58.2 | top officials announced they're stepping down. |
| 1:01.3 | Robert Kaplan is the president of the Dallas Fed, and Eric Rosengren heads the Boston Federal |
| 1:07.0 | Reserve Bank. |
| 1:08.0 | Rosengren said he's stepping down for health reasons, but the announcement comes as the |
| 1:12.9 | two men face an investigation into their trading activities. |
| 1:16.9 | The FT's Colby Smith has more on what landed them in hot water. |
| 1:21.0 | Both Kaplan and Rosengren were found to have been active investors last year in financial |
| 1:27.9 | markets, and so Kaplan had stakes of more than 1 million in 27 publicly traded companies. |
... |
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