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Photo: Jerome Powell

The Federal Reserve is coming under greater scrutiny from inside and outside its walls following revelations about market trading by senior officials in 2020 as the coronavirus forced the central bank to leap to the rescue of the U.S. economy.

Days after Bloomberg News first reported trades made last year by Vice Chair Richard Clarida, the Fed said late Monday that its internal watchdog will review whether actions by “certain senior officials [were] in compliance with both the relevant ethics rules and the law.”

“We welcome this review and will accept and take appropriate actions based on its findings,” the Fed said in a statement.

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