The Republican congresswoman Marjorie Taylor Greene invested in tech shares before the White House paused tariffs and triggered a rebound in the stock market.
Ms Greene, who is a staunch ally of Donald Trump, is facing calls for an investigation after she bought into various plummeting stocks, including Lululemon, Dell Computer, Apple Inc, Amazon, and the parent of Restoration Hardware.
The shares dropped around 40 per cent on average late last week, as Mr Trump’s announcement that he would impose tariffs on countries around the world caused global market turmoil.
The markets then soared when the president announced a 90-day pause on many of his “reciprocal tariffs” on nations other than China.
RH, formerly called Restoration Hardware, was a clear winner for Ms Greene, jumping more than a third since Friday’s close when she bought it after a stunning collapse in price, according to data from a required three-page financial holdings document.
Though the document doesn’t disclose exactly how much she paid for the stocks, only ranges and dates, some of her other bets are also working out so far, at least as of Wednesday’s close.
Dell has jumped nine per cent since Ms Greene bought the stock, after it had lost more than half its value.
Congressman Robert Garcia has called for an investigation into Ms Greene’s actions. “What did Marjorie Taylor Greene know before that announcement happened, and what stocks did she and her family trade, leading up to that announcement?” he said at a press conference.
“Elected officials shouldn’t be trading stocks while in office,” said Democrat Jason Crow. “Let’s fight corruption. Let’s pass a ban on stock trading NOW.”
While lawmakers are allowed to buy and sell stocks, they are required by the Stop Trading on Congressional Knowledge Act to publicly disclose any stock trades valued over $1,000 (£765) within 45 days of the transaction.
When asked about possible conflicts of interest, Greene told the Associated Press that she has signed a fiduciary agreement to allow her financial advisor to control her investments. “All of my investments are reported with full transparency,” she added.
A representative of Ms Greene called the implication that a probe would be launched into the matter “utterly absurd.”
But Democrats are also demanding an investigation into whether Mr Trump violated securities laws and engaged in insider trading when he abruptly changed course on his global tariffs.
Last week, when the president announced steep and sweeping tariffs on countries across the world, he wrote that: “This is a great time to buy!”