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Federal Reserve Governor Quarles Faced Ethics Inquiry Before Resignation

2025.11.15 23:16:28

On November 15th, according to a Federal Reserve official, former Fed Governor Brainard resigned suddenly. The reason was that Fed Chairman Powell refused to approve her request for a waiver to handle financial assets that violated the Fed's ethical guidelines. It was stated that before resigning in August, Brainard was under investigation by the Fed's internal watchdog due to recent financial disclosure issues. Documents released on Saturday showed that an official from the Fed's Office of Ethics refused to approve Brainard's latest financial disclosure and referred the matter to the Fed's Inspector General's Office. The disclosed disclosure materials on the U.S. Government Ethics Office website indicated that the details of her financial activities were suspected of violating the Fed's internal ethical standards. Brainard announced on August 1st that she would resign effective August 8th without specifying a specific reason. (FX678)
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