Polling has found that a stock trading ban for members of Congress is overwhelmingly popular and has bipartisan support.
It was recently revealed that Fed Vice Chair Richard Clarida sold investment fund shares just as the market crashed.
In some especially egregious violations, lawmakers failed to disclose trades that were potentially worth millions.
At least 28 U.S. senators’ households own over $12.6 million in fossil fuel industry and energy funds.
The agency is floundering after reports unveiled huge stock trades by top officials in the agency over the pandemic.
The sale came on the first day of October 2020, which was among the worst months of the pandemic for the stock market.
Directly before pandemic policy changes were announced, the Fed’s vice chair made stock trades worth up to $5 million.
The agency is looking into changing its rules around allowing its staff members to trade stocks.
The 16-month-late disclosure shows the trade occurred after senators were privately briefed on the impending pandemic.
Rep. Virginia Foxx (R-North Carolina) bought marijuana-industry stocks ahead of key votes on decriminalization bills.