Derby’s Take: Powell’s Muni Bond Holdings Flag Expansive Fed Footprint

Federal Reserve Chairman Jerome Powell’s personal investment profile is a reminder of why the Fed has generally tried to keep any asset buying it does to Treasurys and certain types of mortgage bonds.

According to a document detailing Mr. Powell’s personal investments last year, he reported holding municipal bond-related investments of a type that a central bank emergency lending effort ended up targeting in 2020.

“I…