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From CNN Business' Nicole Goodkind
Federal Reserve Bank of Atlanta President Raphael Bostic said Friday he had inadvertently broken the central bank's trading rules.highlighted multiple violations. Bostic, who has led the Atlanta Fed for five years, made personal trades during blackout periods, when officials are prohibited from making financial transactions.
On Friday, Bostic said that the errors were due to a misinterpretation of central bank rules. He said he sought to correct his mistakes “as soon as I became aware that my financial reporting did not meet the expressed or implicit expectations necessary to maintain the public’s trust.”“I recognize it is my responsibility to understand and abide by every obligation of this office,” Bostic said.
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