FT News Briefing Two Federal Reserve officials step down amid ethics questions
Sep 28, 2021
Two senior Federal Reserve officials resign amid ethics questions about their trading activities, causing a stir in U.S. monetary policy discussions. Meanwhile, Fed Chair Jay Powell joins central bank leaders at a European forum addressing rising inflation risks. In Germany, the political landscape remains uncertain after a razor-thin election, with parties engaging in coalition talks that could reshape the government. Also, the entertainment industry buzzes as a major merger between CAA and ICM hints at significant changes in Hollywood.
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Fed Resignations
- Two Fed officials, Kaplan and Rosengren, resigned amidst trading activity investigations.
- Their trading during the Fed's market interventions raised concerns.
Global Inflation Concerns
- Central bankers globally are focusing on inflation management.
- ECB President Lagarde acknowledges inflation risks and supply chain issues.
German Coalition Talks
- Germany's SPD narrowly won the election, but the next chancellor is uncertain.
- Coalition talks are underway, with the SPD and CDU vying for leadership.