August 28, 2014 / 8:10 PM / 3 years ago

From stock-pickers to pensioners, Fed board filings show millionaires

WASHINGTON, Aug 28 (Reuters) - The five members of the Federal Reserve board that oversee U.S. monetary policy have plenty of money of their own, according to government filings released on Thursday.

The U.S. Office of Government Ethics released the annual financial disclosure reports for three of the Fed board’s five members, showing personal assets ranging in worth from $1.1 million to $43.0 million in 2013.

Fed Chair Janet Yellen and her husband had financial assets that ranged in value from $5.2 million to $14.1 million, up a bit from the prior year, with much of her wealth tied up in a University of California pension fund and other related investments dating to her time as an academic.

Officials at the U.S. central bank are only required to report the value of their assets in broad ranges.

Fed Governor Jerome Powell reported household financial assets ranging from $16.8 million to $43.0 million, the most of any member of the board. From 1997-2005, Powell was a partner at the Carlyle Group, one of the world’s largest private equity funds.

Daniel Tarullo, who taught law at Georgetown University before joining the Fed, and his spouse reported assets ranging in value from $1.9 million to $4.4 million.

The financial disclosure reports for Fed Vice Chairman Stanley Fischer and Governor Lael Brainard, who arrived at the Fed in June, were released earlier in the year in conjunction with their nominations.

Fischer’s assets ranged in value from $14.6 million to $56.4 million, with dozens of individual stocks listed among his holdings, including Coca-Cola, Philip Morris, Exxon Mobile Corp and American Express.

Brainard and her husband, paupers by Fed standards, held assets worth only $1.1 million to $2.7 million. (Reporting by Michael Flahety and Howard Schneider in Washington; Editing by Bernard Orr)

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