Fed's Top Cop Gets Grilled About Leaks
he Marriner S. Eccles Federal Reserve building stands in Washington.
hotographer: Andrew Harrer/BloombergThis article is for subscribers only.
For once, Federal Reserve chair Janet Yellen isn’t the only one on the spot. This week, lawmakers want answers about what’s really going on inside the Fed from its behind-the-scenes internal cop.
They are pressing Mark Bialek, the Fed’s inspector general, on whether Fed employees let confidential, market-sensitive details leak from a 2012 meeting on monetary policy. They want him to tell them, as soon as today, how the Fed responded to the leak, whether its board tried to squelch an inquiry, and what has become of an internal investigation that Bialek’s office started two years ago.