(MT Newswires) -- Robert Kaplan and Eric Rosengren, who headed the Dallas and Boston Fed respectively, have been cleared of any wrongdoing, according to a report by the US Federal Reserve's internal oversight body. Despite suspicions of conflicts of interest that tarnished the Fed's image, the investigation concluded that there had been no proven misconduct. In response to these concerns, the Fed tightened restrictions on financial transactions by its staff, aimed at eliminating the risk of conflicts of interest.

Bloomberg videos