Shame. Shame. Shame.
Updated: Oct 2, 2021
Once is chance, twice is coincidence, three times is enemy action. (Ian Fleming)
Another Fed leader caught trading ahead of the market. Now we have 3 major Fed decision makers using insider knowledge for self-enrichment.
Vice-chairman Clarida reportedly traded the day before a major Fed announcement. Is it credible that he didn't know? Nooo waaay.
But life is full of ironies. He was reportedly selling bonds and buying stocks on February 27th of 2020. Does anyone remember the bloodbath that happened in the following weeks? Even insider trading doesn't always work. As in life, timing is everything.
Other than identifying another crook, you have to ask what is really going on? Somebody is outing these guys. Obviously, they are corrupt, but what is the plan for their replacement?
That is the real game at the Fed and the real question for the markets.
What do you think?
Robert Lloyd, CFA®
Chief Investment Officer
Lloyds Intrepid Wealth Management
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