The richest Federal Reserve Chairman in history, Walsh completed asset divestment and signed a certificate of compliance with a moral agreement

The Zhitong Finance App learned that Federal Reserve Chairman Kevin Walsh has sold all financial assets he previously promised to dispose of and completed the conflict of interest avoidance arrangements made when he became the chairman of the Federal Reserve.

According to US government public records, Walsh signed a certificate of compliance with the ethics agreement submitted to the US Government Ethics Office last Thursday. The relevant documents were made public on the agency's website on Saturday.

According to the documents, Walsh has completed all of the asset divestment requirements stipulated in its moral agreement, including remaining investment rights that have not been disposed of before.

Walsh officially became the chairman of the Federal Reserve in May of this year. Previously, he had submitted a divestment certificate to the US Government Ethics Office, showing that it had sold most of the financial assets it had previously promised to dispose of.

The latest disclosure means that Walsh has further sold the remaining investment interests covered by the moral agreement to complete the previously promised asset divestment plan.

Senior US government officials are often required to reduce potential conflicts of interest between personal financial interests and their public positions through asset sales, evasion of related matters, or other measures. For the Chairman of the Federal Reserve, due to his direct participation in US monetary policy formulation, policy decisions may have a broad impact on the prices of stocks, bonds, and other financial assets, so the personal investment situation has received particular attention from the market.

Walsh is one of the richest senior officials in the history of the Federal Reserve. Earlier disclosures revealed that he had promised to sell a number of investment rights, some of which were subject to confidentiality agreements and did not publicly disclose the specific composition of the underlying assets.

Notably, some of these investments are worth at least $100 million, highlighting the size of Walsh's personal assets and why the asset divestment arrangement has attracted attention.

With the disclosure of the latest compliance certificate, Walsh has confirmed the sale of all remaining financial assets required it to dispose of in the moral agreement, and completed the asset clean-up of his assets relating to personal investment conflicts of interest after taking office as Chairman of the Federal Reserve.