Fed imposes sweeping new limits on policymakers’ investments

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — The Federal Reserve is imposing a sweeping new set of restrictions on the investments its officials can own, a response to questionable recent trades that forced two top Fed officials to resign. The Fed announced Thursday that policymakers and senior staff would be barred from investing in individual stocks and bonds. They would also have to provide 45 days’ advance notice of any trade and receive prior approval from ethics officials. And they would have to hold the investments for at least one year. As a result, Fed officials would essentially be restricted to holding mutual funds.