Wednesday, July 15, 2015

Congressman Screams at Yellen: 'You did nothing!'

During Federal Reserve Chair Janet Yellen's testimony today before the House Committee on Financial Services, Rep. Sean Duffy, R-Wis., lashed out at her, accusing her and the Fed of willfully hiding documents that have been subpoenaed for an ongoing congressional leak probe.

The probe centers around the disclosure of confidential information about a 2012 meeting of Fed policymakers allegedly to a firm that sells analysis and reports to investors.

Yellen has admitted that she met once in 2012 with Regina Schleiger, a senior managing director of Medley Global Advisors, which publishes the newsletter. Yellen was the Fed's vice chairman at the time.

But Yellen said the meeting occurred several months before the private Fed discussions at issue took place, and dealt with general economic matters.

"You did absolutely nothing—zero. ... You did nothing to perpetuate an investigation that would lead us to the truth," Duffy charged. "Madam Chair, it appears that you are the one who is jeopardizing—or the Fed is the one who is jeopardizing—this investigation. Am I wrong?"

Fed vice chair Stanley Fischer is waiting in the wings if this boils to the top and forces Yellen to resign.


1 comment:

  1. The FED was born in a lie; they've fostered the deceit for 102 years. Subterfuge continues to work very well for them. Why should they stop now?