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“This is the problem with central banks the world over: they are in the business of imposing prosperity through financial means, rather than by treating prosperity as a co-product of actual growth. Their intentions are the best but what they are doing is incalculable harm.”

Jim Grant, 2011

(Source: My notes from a now-deleted Bloomberg interview with Grant and Jim Rickards)

Former Fed Gov. Kugler violated trading rules while at the central bank, ethics report found

Adriana Kugler resigned from the Federal Reserve after Jerome Powell denied her request for a waiver regarding her financial holdings that violated ethics rules, according to a Fed official.

Kugler faced an investigation by the Fed's internal watchdog concerning her financial disclosures before her resignation in August.

Kugler acknowledged that her spouse's purchases of Apple Inc. and Cava Group Inc. shares violated investment rules, stating, 'my spouse made the purchases without my knowledge.'

Kugler's resignation allowed President Donald Trump to appoint Stephen Miran to the Fed's board amidst his pressure for lower interest rates.