Federal Reserve Employee Takes Confidential Information Upon Departure

The Inspector General of the Federal Reserve revealed that an employee may have taken confidential information from the Federal Reserve upon leaving, although the specifics have not yet been confirmed. Previously, the Inspector General's office released a report stating that some regional Federal Reserve directors received briefings from policymakers before and after monetary policy meetings, potentially exposing them to non-public information that could be used for personal gain. The report noted that a review of the minutes from meetings between the board of directors and regional Federal Reserve presidents found instances where "sensitive FOMC information may have been disclosed to directors." The Federal Reserve Board disagreed, stating that policymakers and staff are prohibited from providing directors with FOMC confidential information, and that the related briefings do not pose a risk of directors obtaining confidential information.

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