FED apparently leaks advance warning of 75bps hike to WSJ's Nick Timiraos during FOMC blackout as behind-the-curve rate hikes expose holes in the 'Everything Bubble'
Excellent article as always. Fills in the blanks. I do think that Timiraos very likely has plausible deniability. Like analyst calls with company insiders, actual unreleased numbers are not explicitly mentioned. That would be a textbook violation of the law. But through the tone and context of the conversation, the leaked information is all too clear.
Thanks for your comments! Yes, we suspect he'd deny it too, but the circumstantial evidence is overpowering. We were surprised to see FT go for the leak so explicitly. It certainly makes us wonder if they'd hear something directly.
Leak or not (yeah right!) it's another terrible look for a scandal-ridden Powell FED...
Excellent article as always. Fills in the blanks. I do think that Timiraos very likely has plausible deniability. Like analyst calls with company insiders, actual unreleased numbers are not explicitly mentioned. That would be a textbook violation of the law. But through the tone and context of the conversation, the leaked information is all too clear.
Thanks for your comments! Yes, we suspect he'd deny it too, but the circumstantial evidence is overpowering. We were surprised to see FT go for the leak so explicitly. It certainly makes us wonder if they'd hear something directly.
Leak or not (yeah right!) it's another terrible look for a scandal-ridden Powell FED...
Dont forget about Janet Yellen and the policy leak from her Fed.
They conducted an "internal investigation"..... and we are still awaiting the results.
If Fed Funds had been 2% ....steady....for the past 12 years.....we would all be better off.
(and 30yr mortgages between 5 and 6%)