Sen. Elizabeth Warren, Rep. Elijah Cummings Press Federal Reserve For Details of Leak Investigation

[marmar]

Sen. Warren, Rep. Cummings Press Federal Reserve For Details of Leak Investigation
In a letter to the Fed, they say “public has a right to know” what happened after potentially market-moving information found its way into a private newsletter in 2012.

by Jake Bernstein
ProPublica, Feb. 5, 2015, 6:04 p.m.


Two congressional Democrats have asked the Federal Reserve Board for a briefing about its investigation into a leak of confidential Fed policy deliberations two years ago.

Sen. Elizabeth Warren, D-Massachusetts, and Rep. Elijah Cummings, D-Maryland, sent the request today to Scott G. Alvarez, the board's general counsel, saying that neither Alvarez "nor any other Federal Reserve official has made public any information about the conduct of the investigation or its outcome."

"We are disturbed by this lack of transparency regarding such an important topic," the two wrote. "This leak contained key market-moving information, violated Federal Reserve policy on disclosure, and may have represented a violation of federal law."

ProPublica reported in December that details from discussions of the Federal Open Market Committee found their way into a financial analyst's private newsletter. The leak occurred in October 2012, the day before the scheduled public release of committee meeting minutes that promised to shed new light on a third round of bond buying to boost the economy. ...............(more)

The complete piece is at: http://www.propublica.org/article/warren-cummings-press-federal-reserve-for-details-of-leak-investigation

[PoliticAverse]

1. <cough>too big to jail<cough>