(Reuters) – U.S. Federal Reserve officials were strongly encouraged to observe a trading blackout for “several months” in the spring of 2020 as the central bank was embarking on a course of extraordinary actions to blunt the threat presented by the coronavirus pandemic, according to a memo sent to all senior officials by the Fed’s ethics office.
“In light of the rapidly developing nature of recent and likely upcoming (Federal Reserve) System actions, please consider observing a trading blackout and avoid making unnecessary securities transactions for at least the next several months, or until FOMC (Federal Open Market Committee) and Board policy actions return to their regularly scheduled timing,” the March 23, 2020, memo said.
(Reporting By Dan Burns; editing by Diane Craft)
