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Potential conflict of interest

The lawmaker’s suspected bet against the U.S. economy comes at a time when the Nasdaq 100 Index is up 42% year-to-date — thanks largely to strong performances by technology stocks, particularly those with an interest in artificial intelligence.

Carper’s position on the inverse ETF has been called out by CongressTrading on X.com (formerly known as Twitter) as a potential conflict of interest.

The watchdog group posted: “Senator Carper reports shorting (betting against) the American economy in his stock portfolio. So now is he incentivized to pass laws to ruin the economy so he makes money?”

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Attempts to ban congressional stock trading

Public scrutiny of congressional stock trading has intensified in recent years, with politicians being accused of using their connections and insider information to score winning deals.

A new bipartisan law was proposed in late July, which would ban members of Congress and the federal executive branch — including the president — from owning or trading stocks, even in blind trusts.

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About the Author

Bethan Moorcraft

Bethan Moorcraft

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Bethan Moorcraft is a reporter for Moneywise with experience in news editing and business reporting across international markets.

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