Yellen balks at pro­vid­ing doc­u­ments

Los Angeles Times - - BUSINESS BEAT -

Fed­eral Re­serve Chair­woman Janet L. Yellen is balk­ing at turn­ing over some of the doc­u­ments or­dered by a key House law­maker in his in­ves­ti­ga­tion of a pos­si­ble leak of mar­ket-sen­si­tive in­for­ma­tion.

Yellen has told Rep. Jeb Hen­sar­ling (R-Texas), who heads the House Fi­nan­cial Ser­vices Com­mit­tee, that she can’t pro­vide some doc­u­ments sought by his sub­poena be­cause do­ing so could jeop­ar­dize a crim­i­nal in­ves­ti­ga­tion by the Jus­tice Depart­ment and the Fed’s watch­dog in­spec­tor gen­eral. Yellen said the in­spec­tor gen­eral has told the Fed that the doc­u­ments in ques­tion — which in­clude records re­lated to an ear­lier in­ter­nal re­view by the Fed’s gen­eral coun­sel — should not be pro­vided.

The move es­ca­lated a months-long battle be­tween Yellen and Hen­sar­ling over an al­leged leak in 2012 of in­ter­est-rate in­for­ma­tion to a fi­nan­cial newsletter.

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