WASHINGTON – A powerful congressman is compelling the Federal Reserve to provide documents related to a possible leak of market-moving interest-rate information to a financial newsletter.
Rep. Jeb Hensarling, the Texas Republican who heads the House Financial Services Committee, announced Thursday he had issued a subpoena to the Fed. He says the central bank has repeatedly failed to adequately respond to the panel’s questions and document requests.
The committee’s Republicans are investigating whether confidential information was deliberately leaked from the Fed’s interest-rate policy meeting in September 2012. The Fed told the committee in March that its own investigation found no evidence that sensitive information was deliberately leaked from the policy meeting.
The Fed inspector general, an independent watchdog, and the Justice Department have been reviewing the handling of the internal probe