House Committee Will Interview Fed Staffers on Leak Probe

The hunt continues. I think they are after Fed Chair Yellen's scalp.

A House panel has lined up “a number” of interviews with Federal Reserve staffers related to the possible leak of confidential information from a 2012 Fed policy meeting, the panel’s chairman said in an interview, with WSJ.

House Financial Services Committee Chairman Jeb Hensarling said the Fed has no legal basis for refusing to comply fully with a subpoena from the committee on the leak probe, though the Fed is not complying. He also argued the Fed has no grounds to invoke “executive privilege,” the authority claimed by the president or other executive branch agencies to avoid releasing certain information.

“They are violating the law at the moment,”  Hensarling told WSJ..

“Somebody has to be held accountable,” he said. “It was an incredibly serious breach.”

Fed Chair Yellen has admitted meeting in 2012 with a key member of the firm that appears to have been the recipient of  the confidential information. However, Yellen claims that the meeting took place before the information, at the center of the investigation, was available to be passed on.

 -RW