Big issue in the news lately has been stock trades by the federal reserve. We had a particular member. I believe it was richard clarida who moved money from a bond fund to a stock fund the day before an announcement by the federal reserve. Elizabeth warren made a similar move, but not near one of these catalyst states.

We've had other broker or other members of the federal reserve, also make moves in stock portfolios, whether it's to different funds or to uh to different stocks or whatever we have seen such uh such drama, and what we have over here is uh. Now new information that jerome powell may have traded potentially up to a million dollars right before a catalyst event. Now drone powell so far has not been uh part of uh sort of any uh. What's it called uh, you know scrutiny up until now and this disclosure, so let's uh, let's see what we've got here.

How big a deal is powell's million dollar stock trade there's no way that insider knowledge would have helped jerome powell's one stock trade. In fact, his timing was lousy. Oh interesting john throws it all out there in the summary. So let's see what we got here.

Uh, let's see a journal of american progressive left, has published a piece highlighting that jerome powell, chairman of the federal reserve, sold between one and five million in stock on october 1st of last year. He did so through a vanguard fund that tracks the total market. How big of a deal is this kind of also worth noting that the stock market just barely, was getting out of the disaster of the september sell-off last year around october 1st, and remember that we walked basically right into the election drama around. I want to say it was week two and three: maybe it was even one through three of october of last year that were kind of a disaster right before the election.

It was a perfect opportunity to go shopping in stocks and took big advantage of shopping and buying the dip then - and it looks like jerome powell kind of bought before that. So, let's see here, the full disclosure can be found here. Thank you very much. Let's go ahead and look at the full disclosure, so there it is jay pow.

I certify the statements are true and correct, and so what do we got here? We have t row, price equity index value. Okay, these are, these are just the assets that we have so he's got about 1 to 500, 500, 000 to 100, or to 1 million dollars in a t row price, essentially something that tracks the s. P 500, another one to five million dollars in an s: p, 500 blackrock index and then a spider index 100 to 250 000.. So he's pretty much all in on spy kind of interesting spouses, uh employment, video production here value not readily accessible; okay.

So, where are the moves here? Let's see, for these are other assets that he has. I'm surprised i thought jerome powell would have a whole bunch more assets to put on his disclosure here. A lot of these are smaller sort of individual bonds. That he's got here.

2500 to 5 000, relatively small numbers for jay powell. In my opinion, then here we go mutual life insurance cash value 100 to one mill: okay, vanguard, total stock market index fund a million to five. Here we go: here's where the larger numbers are uh. I shares rush russell 3000, 15, 000 to fifty thousand, and here we go transactions so really the transaction that was most interesting was right here: the sale, what he sold: the vanguard, total stock market index on october, 1st uh between 1 million and 500 000.

Sorry, 1 million and 5 million dollars worth. Why would he sell that's interesting, so he actually sold a chunk here october 1st. It doesn't look like he rebought based on this. Oh here we go.

What is this, oh here was here was some buying and he didn't. No, this is a sale as well. That is interesting. We don't actually get dates for some of these other purchases, which are kind of annoying.

We have all these endnotes that we'd have to go through to find them. Uh, that's not so ideal and in fact i don't even know, what's the footnote here, i don't even know that we're gon na get dates see. None of these have actual dates just says, see endnote, that's quite interesting. So gifts and travel, reimbursements, liabilities transactions - okay, the section does not include things having to do with personal residence treasury bonds.

Things like this, okay got it. It's not a big deal. Other disciples there's nothing on the dates for the purchases. So it's a little kind of odd that you would see um, oh and he closed his life insurance policy in 2020 - lots of liquidating but anyway.

So i wonder if he bought a big house or something like that liquidated or something like that. That would be interesting, but why would you sell october 1st uh and september 21st? I agree. I think this timing's actually pretty lame. Where are your buys man? I mean you got all these smaller purchases here, but there is no big purchase here.

That's very odd! Jay. Pal paper handed did he buy a house? Let's see jerome powell purchase house, let's just see uh, okay, oh thank you! Safari jerome powell purchases house see if he did. No there's really no talk about him purchasing. You think that that would be news if he bought a house right, so he didn't buy a house.

I wonder what he did with his money. Let's see what the opinion article makes uh makes of this before we get we're still waiting on united earnings by the way it looks like fed chairperson, a rich man from his career in private equity holds an impeccably dull investment portfolio. I kind of agree like i'm shocked: it's not that large, it's smaller than expected. Apparently he got out earlier than expected.

Uh, you know virtually all passive and spread across asset classes does not appear to have done much trading, barely small purchases and a sale that looks like it's either rebalancing or some sort of income to reinvest yeah. It's odd one. Big trade was on october 1st. It uh covered the whole market, so no inside knowledge of particular sectors would have helped yeah.

This is when the trade occurred right here and the market took off like 33 since then so very odd, sale, lousy timing completely agree with that 35 percent gain on on a good chunk of money. So he's already publicly addressed his intentions in august and september of that year, yeah he should have been keen to buy and not sell, no kidding the american prospect. This is that left-leaning group, the liberal group they put together a narrative that makes the transaction seem more sinister. I don't know i'm looking at the disclosures and having been in this market every single day here this seems stupid, yeah man, there you go j pal sold and got all in on btc in ethereum.

Now he would have to disclose that. So, unless he's not disclosing it, which i'm not suggesting things couldn't be hidden, he would have to disclose that as an asset, that's a that would be absolutely hilarious. Could you imagine if jerome powell liquidated his stocks and went all in on crypto? Oh, my gosh, that would be the funniest thing ever uh fox business popular with conservatives, followed the story and headlined jay powell sold up to 5 million in stock in 2020 before market tanked um that, i don't think so i don't think so. Uh, maybe yeah they're referencing, maybe the little bit of wobbling before the election.

That's nonsense, so it looks like the left group is nonsense. Fox news was nonsense on this headline sounds like the media is just being dumb as usual. The real issue here uh, is the the fed officials have to be worried about conflicts of interest powell, whether it needs to be reappointed or not blah blah blah uh. I see i just want to know where the money went honestly.

I i want to know where the money went. Did he go cash? Heavy i mean that's, i mean you'd, think it would. It would show something i mean. Well, then, again you don't have to show purchases, you would have to show assets, so maybe does he show assets yeah cash? I think he went to cash.

Oh, my gosh, why that's the only thing that makes sense, because otherwise he would have had to show on a purchase, so he probably went to cash for some reason you know he's. Probably just i mean he's never professed to be a trader. I mean don't get me wrong, like i, i like jay pal, but yeah he's got he's got a bunch of money sitting around in cash uh. I i don't.

You know he doesn't have to disclose a purchase for cash and there there are no purchases here under transactions. For anything close to that amount, i mean you've got some money, maybe here 50 to 100 000. But again you had more sales over here he sold a bunch of stuff in 2020.. I think he cashed out he's just like f it.

You know. That's that's about the extent that i could see this and do i think it was sinister, not really, if anything it was stupid, but then again hey, maybe for his own peace of mind. He's just like look. I i can't take it anymore, like it's too stressful.

We've rebounded a good amount. I just i want to get ready to potentially retire. I'm just gon na sit on some cash. That's the only thing that i could really expect here, uh, and so you know in my opinion, i don't necessarily see anything wrong with this.

I think this is probably a personal decision for jay pal and uh. I'm not gon na complain about it, like uh fox or that liberal left group that uh implied it was sinister. It's just my thoughts, just my two cents on it all right. Anyway.

That's j pal four, yet.