“Congressional efforts to press the Federal Reserve for more details about a possible leak have suddenly focused attention on Chairwoman Janet Yellen’s contacts with financial firms.
“Ms. Yellen met in 2011 and 2012 with a representative of Medley Global Advisors, the financial consultancy involved in several investigations into its publication of sensitive details of internal Fed policy deliberations.
“In a letter Monday to lawmakers, Ms. Yellen said that she couldn’t have provided the sensitive information in the Medley report because it related to a Fed a meeting in September 2012, long after her meeting in June 2012 with a Medley analyst.
“Fed officials want to talk with market participants and others to get information on markets and perceptions of central-bank policy. But the access they offer could result in real or perceived advantages to a privileged few.”
Read the full Wall Street Journal article by Pedro Nicolaci Da Costa and David Harrison here.