Warren, colleagues seek probe of Bowman’s Bank of America event
Senate Democrats want the Fed's inspector general to investigate whether Vice Chair Bowman violated blackout period rules by attending a private BofA client dinner hours after the FOMC meeting.
Three Senate Democrats have requested that the Federal Reserve’s Inspector General examine whether Vice Chair for Supervision Michelle Bowman breached central bank policies by attending a Bank of America event during the Fed’s post-meeting quiet period, according to The Wall Street Journal.
The lawmakers asked the watchdog to determine whether her participation violated any rules and whether existing guidance on external appearances should be updated.
The request follows Bowman’s attendance at a client event held immediately after the Federal Open Market Committee’s June 16-17 meeting, when Fed officials face restrictions on discussing monetary policy to prevent market disruption.
Bowman rejected the allegations, stating that she did not express any views on monetary policy and remains fully compliant with the Fed’s ethics and FOMC communication rules.