IWM - Fed's Powell sold up to $5 million in stock in October 2020

Federal Reserve Chairman Jerome Powell sold up to $5M in a broad index fund as the economy was recovering from the pandemic last year. In disclosure to the U.S Office Government Ethics, Powell notes a sale from the Vanguard Total Stock Market Index (NYSEARCA:VTI) of between $1M and $5M in October 2020. He also sold between $50K and $100K of the index on Sept. 21. The sale was first reported by The American Prospect. While the Prospect's headline says Powell sold while the market was "tanking," the Fed chief sold before a 1.5% pullback after the V-shaped recovery in shares from the pandemic nadir. The S&P then resumed its march higher, setting all-time highs. VTI is up more than 35% since he sold. In December, Powell sold smaller stakes, up to $250K, of the Causeway International Value Fund (MUTF:CIVIX), the Goldman Sachs Equity Dividend and Premium Fund (MUTF:GSPKX), the iShares MSCO

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Fed's Powell sold up to $5 million in stock in October 2020