Federal Reserve cracks down on how its officials invest
CBSN
Washington — The Federal Reserve is imposing sweeping new restrictions on the investments its officials can own, a response to questionable recent trades that forced two top Fed officials to resign.
The Fed announced Thursday that policymakers and senior staff would be barred from investing in individual stocks and bonds. They would also have to provide 45 days' advance notice of any trade; receive prior approval from ethics officials; and be required to hold the investments for at least a year. In addition, officials would be barred from selling investments during periods of heightened financial market stress.
As a result, Fed officials would essentially be restricted to holding mutual funds.
Republican Sen. Lisa Murkowski said Thursday she is "unable to support" Pete Hegseth for secretary of defense. She's the first Republican to state her opposition to President Trump's nominee ahead of his Senate confirmation vote.
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A court in India has sentenced five men to death for the gang rape and murder of a teenager as well as the killing of her father and toddler-aged niece.
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Two Native Hawaiian brothers who were convicted in the 1991 killing of a woman visiting Hawaii allege in a federal lawsuit that local police framed them "under immense pressure to solve the high-profile murder" then botched an investigation last year that would have revealed the real killer using advancements in DNA technology.
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Nominations for the 97th annual Academy Awards are being announced Thursday morning after being delayed twice due to the Los Angeles area wildfires.
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Howard Lutnick, the billionaire financial executive named by President Trump to head the Commerce Department, has agreed to divest his holdings in a range of business interests, including stepping down from his longstanding position as head of the brokerage and investment bank Cantor Fitzgerald.