"We need to make changes and we are going to do that," Powell said at a televised press conference after the Fed's latest policy meeting. Asked if he still trusted Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren to do their jobs, Powell said, "In terms of having confidence and that sort of thing, I think, no one is happy. Powell said he had not been aware of their trading activities before they were reported earlier this month by the Wall Street Journal and others. Powell said he checked with the office of government ethics which found he did not have a conflict. Powell said he was "reluctant to get ahead of the process" and signal what changes might be ahead.

Source: The Star September 22, 2021 22:07 UTC