Fed president Lacker steps down after acknowledging leak : Understanding the Federal Reserve

The only think seriously befuddling about this post, was why Jeffery Lacker upon his admission was allowed to choose when he would retire rather beeing ordered to clear out his desk, taking all keys and passes, immediately escorting from the building on the the street. 

 

Lacker must be put before a grand jury and if indicted tried until he is convicted or proved innocent.

 

 

The Mises Institute

C.Jay Engle,

April 4, 3017

Federal Reserve Bank of Richmond President Jeffrey Lacker announced Tuesday that he was leaving the Fed immediately, acknowledging his role in a high-profile leak regarding a major Fed interest rate decision in 2012.

In a statement, Lacker said he regretted that he “crossed the line to confirming information that should have remained confidential.”

Lacker had already announced his intention to leave the Fed system in January.

 

 

On Tuesday, the Richmond regional Fed bank said that its board of directors “took appropriate actions” regarding Lacker after learning of the results of a government investigation into the leak.

The leak of confidential information about the Fed’s monetary policy decision-making in 2012 had been the subject of investigations by the Fed’s inspector general, law enforcement, and Congress.

 

The specific leak in question appeared in a report by Medley Global Advisors, which provides intelligence to hedge funds and other investors. The group’s newsletter contained details about the Fed’s internal deliberations in a September meeting.

 

THE END

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About JCscuba

I am firmly devoted to bringing you the truth and the stories that the mainstream media ignores. Together we can restore our constitutional republic to what the founding fathers envisioned and fight back against the progressive movement, Obama and the liberal media.
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