Details of Fed Chairman Powell's Portfolio Revealed!

Details of Fed Chairman Powell's portfolio revealed! The assets of the Fed officials continue to occupy the agenda.

Personal portfolios of FED (US Federal Reserve) officials do not fall from the agenda of the US public. CNBC's news about the financial assets owned by Fed Chairman Jerome Powell caused a new controversy. According to the news, it turned out that FED Chairman Powell kept the type of local government bonds that the FED bought in 2020 as part of the fight against the effects of the pandemic. It was recorded that Powell held an amount between 1.5-2.5 million dollars in such assets, and that he bought these assets in 2019. In 2020, the FED made $5 billion purchases from this asset class. These assets included the Illinois state bonds that Powell's family acquired in 2016. Along with Powell, Boston Fed Chairman Eric Rosengren and Richmond Fed Chairman Thomas Barkin also appeared to have some asset classes purchased by the FED in their portfolios. In Rosengren, real estate investment trust assets with mortgage-backed securities emerged between $151 thousand and $800 thousand. Rosengren carried out 37 transactions in 4 different real estate investment trusts. In 2020, the FED made approximately 700 billion dollars of purchases from such assets. Barkin, on the other hand, bought between 1.35 million and 3 million corporate bonds before 2020. These companies included Pepsi, Home Depot, and Eli Lilly. Last year, the FED enabled purchases of these assets and made purchases of 46.5 billion dollars.

Powell Requested Supervision

FED Chairman Jerome Powell initiated an evaluation process for FED officials to determine investment rules. In the statement made by the Fed, it was stated that Powell gave this order last week. Last week, the personal portfolios of the Boston and Dallas Fed chairmen became the subject of public debate.