Top Republican alleges China has been spying on Fed for at least a decade

The New York Sun/Scott Norvell/7-26-2022

“Senator Portman of Ohio said his report, based on the Fed’s own counterintelligence analysis, documents the myriad ways in which China uses the Fed’s collaborative research policies and programs to get inside information on the bank’s inner workings, including decisions of the Federal Open Market Committee that set interest rates and U.S. trade policy surrounding tariffs.”

USAGOLD note: The Wall Street Journal reports that the investigation uncovered “a sustained effort by China, over more than a decade, to gain influence over the Federal Reserve and a failure by the Federal Reserve to combat this threat effectively.” Spying is one thing. Attempting to influence policy is something else again.

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