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Fed to tighten security of FOMC statement
The new procedures will require media outlets including MarketWatch as well as Bloomberg News, Reuters and others to report from the central bank, where it will cut off access to the Internet until the 2 p.m. Eastern release time. Previously, the Fed gave the option of filing reports from the central bank or the U.S. Treasury, and relied on an honor system to ensure media outlets didn’t disseminate the information early. The Fed lets a limited number of accredited media outlets receive statements ahead of the embargo. This practice will continue under the new setup. The Fed move comes after the research firm Nanex ... (full story)
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