The outgoing chair of the Federal Reserve Janet Yellen is holding a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, USA, December 13, 2017.
Jonathan Ernst | Reuters
U.S. Treasury Secretary Janet Yellen is calling a meeting of key financial regulators this week to discuss the market volatility driven by retail in GameStop and other stocks.
A Treasury official said Tuesday that Yellen will have convened the heads of the Securities and Exchange Commission, the Federal Reserve, the Federal Reserve Bank of New York and the Commodity Futures Trading Commission.
Yellen asked permission for ethical advocates to do so, according to the document seen by Reuters.
Yellen’s decision to ask for the pardon follows a Reuters report that she had to be paid by a key player in the GameStop saga, the hedge fund Citadel, to get an ethical pardon to do so.
The treasury official, who did not want to be identified by name, said the meeting would be convened this week and possibly as early as Wednesday.
“Secretary Yellen believes that market integrity is important and called for a discussion of the recent volatility in financial markets and whether recent activities are in line with investor protection and fair and efficient markets,” Treasury spokeswoman Alexandra LaManna said in a statement. statement told Reuters.