WASHINGTON (AP) — Federal Reserve Chair Janet Yellen is balking at turning over some of the documents ordered by a key House lawmaker in his investigation of a possible leak of market-sensitive information.
Yellen has told Rep. Jeb Hensarling, R-Texas, who heads the House Financial Services Committee, that she can’t provide some documents sought by his subpoena because doing so could jeopardize a criminal investigation by the Justice Department and the Fed’s watchdog inspector general. Yellen said the inspector general has told the Fed that the documents in question — which include records related to an earlier internal review by the Fed’s general counsel — should not be provided.
“The Federal Reserve is mindful that we must not impede that open criminal investigation,” Yellen wrote in a letter to Hensarling Thursday.
The move escalated a months-long battle between the Fed chair and the lawmaker over an alleged leak in 2012 of interest-rate information to a financial newsletter. ….
There’s more to read at the link.
As if there’d ever be charges against the Fed …. they probably keep an open investigation only to impede congressional oversight.
No one, including myself, wants to know, exactly, how ugly this has become. It’s been a horrid burden on the people. Their policies are insane. The Fed doesn’t function for the benefit of the people. There’s no reason for the people to have it.