Ex-Fed official faced ethics probe on illegal stock trades

Adriana Kugler's resignation from the Federal Reserve has sparked significant scrutiny, particularly as it coincided with an internal ethics investigation into her stock trading activities. Reports indicate that her transactions were not approved by central bank officials, raising questions about compliance with ethical standards. The Financial Times and Bloomberg highlight that her resignation was not merely a personal decision but rather a response to the refusal of Fed Chair Jerome Powell to grant her a waiver for her financial holdings. This situation underscores ongoing concerns about ethical conduct among high-ranking officials in financial institutions.