The Federal Reserve System has acknowledged it is conducting an ethics review following reports that two regional Fed presidents engaged in stock trading last year.
Sen. Elizabeth Warren (D-MA) has called on the 12 regional presidents of the Federal Reserve System to enact new rules to prevent their leaders from individual stock trading.
Oil futures (/CL) are up 1% this morning ahead of the crude oil inventories report. While the NY Empire State Manufacturing Index was nearly double forecast. However, the news failed to move markets.