‘Unfair, Unsubstantiated, And Unverified’: Federal Reserve Dismisses Bombshell Claims Of Chinese Breaches

Posted on AllSides July 27th, 2022
From The Right
Eric Lee/Bloomberg via Getty Images

Federal Reserve Chair Jerome Powell responded to a report from Senate Republicans claiming that the central bank failed to combat a Chinese government information theft campaign by calling it “unfair, unsubstantiated, and unverified.”

The Federal Reserve, charged with executing a dual mandate of maximum employment and stable prices, is presently determining policy to navigate the United States economy through the highest inflation rates in four decades. Yet the report found that China, which holds nearly $1 trillion in Treasury securities, has used talent recruitment plans and promises of academic positions in an effort to glean classified information from central...

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