It’s Been More than Seven Months and Still No Investigative Findings on the Fed’s Trading Scandal

The fact that Kaplan was making directional bets with S&P 500 futures in 2020 while simultaneously having access to inside information warranted a criminal referral by Fed Chair Jerome Powell to the U.S. Department of Justice. Instead, Powell said this when Kaplan abruptly announced his “retirement” as Dallas Fed President on September 27, 2021:

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