Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Fed Official Who Warned on Real Estate Was Active REIT Trader

EconomySep 08, 2021 10:45AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Bloomberg. Eric Rosengren, president and chief executive officer of the Federal Reserve Bank of Boston, speaks during a Hutchins Center on Fiscal and Monetary Policy event at the Brookings Institution in Washington, D.C., U.S., on Monday, Jan. 8, 2018. The event was entitled Should the Fed Stick with the 2 Percent Inflation Target or Rethink It.

(Bloomberg) -- One of the Federal Reserve’s largest internal critics of the risks in U.S. real estate was an active investor in the sector last year, financial disclosures show.

Boston Fed President Eric Rosengren listed stakes in four separate real estate investment trusts and disclosed multiple purchases and sales in those and other securities, the documents show.

Boston Fed spokeswoman Lucy Warsh confirmed that Rosengren’s trades were not conducted via a blind trust but “his investment decisions are consistent with the system’s strong ethics rules and  time frames.”

Separate filings for Dallas Fed chief Robert Kaplan, a former Goldman Sachs Group Inc (NYSE:GS). executive, showed multiple $1 million-plus transactions last year as the U.S economy was convulsed by Covid-19. He also disclosed a $1 million-plus stake in the Kansas City Royals baseball team.

The U.S. central bank slashed interest rates to zero in March as the pandemic spread and began buying hundreds of billions of dollars-worth of Treasuries and mortgage-backed securities to calm financial markets.

Rosengren, who has discussed his concerns in commercial real estate in public speeches, has also advocated for the Fed to consider scaling back its MBS purchases faster than Treasuries to avoid overheating the housing market.

The Wall Street Journal first reported Kaplan’s trading activity, which included transactions of over $1 million in more than a dozen companies including Delta Airlines (NYSE:DAL) Inc., Alphabet (NASDAQ:GOOGL) Inc.’s Google and Verizon Communications Inc (NYSE:VZ). 

“All transactions were reviewed by the Dallas Fed’s general counsel, who confirmed the transactions were in compliance with the bank’s code of conduct. No trades were made during the Federal Reserve’s blackout period, during which trading activity is prohibited,” the Dallas Fed said in a statement.

All 12 regional fed have provided 2020 financial disclosures for their presidents. Most showed nothing unusual, with little or no trading reported last year. 

©2021 Bloomberg L.P.

Fed Official Who Warned on Real Estate Was Active REIT Trader
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Felipe Daniel
Felipe Daniel Sep 08, 2021 11:39AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
What a joke.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email