Richmond Fed President Jeffrey Lacker resigns, admits to leaking confidential information
Apr 05, 2017, 01:34
- "It was never my intention to reveal confidential information", Lacker said in a statement describing an October 2, 2012 conversation with an analyst from Medley Global Advisors.
Lacker previously announced plans to retire later this year.
"I crossed the line", Lacker said in a statement, saying he never intended "to reveal confidential information" and that he may have broken rules against giving people an edge in business.
Controversy has come calling at the doorstep of the Federal Reserve, with the Richmond Federal Reserve President Jeffrey Lacker calling it quits after admitting to leaking information about the deliberations among Federal Open Market Committee members in 2012. His lawyer said no charges are forthcoming.
The analyst in question was working for Medley Global Advisors, which is owned by the Financial Times Ltd.
"Due to the highly confidential and sensitive nature of this information, I should have declined to comment and perhaps have ended the phone call".
In 2015, I was interviewed again as part of a separate investigation conducted by the United States Attorney's Office for the Southern District of NY, the Office of the Inspector General of the Federal Reserve Board, the Federal Bureau of Investigation, and the U.S. Commodity Futures Trading Commission.
Driver attacks police at Capitol Hill checkpoint, arrested
He then heard three gun shots before police swarmed the vehicle. "It was very much reassuring to see the quick response", he said. The incident is being treated as a criminal matter and has no apparent connections to terrorism, Capitol Police said.
The Federal Reserve is committed to maintaining the security of confidential FOMC information. "Instead, I did not refuse or express my inability to comment and the interview continued", Lacker wrote in the statement.
Lacker said it was the Medley analyst who brought up confidential Fed information.
The Federal Reserve's announcements about changes to monetary policy, which influences the rate at which money can be borrowed, have a huge impact on the economy.
The next day, Medley Global Advisors unveiled details of a September Fed policy-setting meeting, one day ahead of the publication of the central bank's own record of the discussions.
"Staff will strive to ensure that their contacts with members of the public do not provide any profit-making person, firm, or organization with a prestige advantage", the policy states. Lacker became the Richmond Fed's president in 2004. It said: "The Federal Reserve places a high priority on safeguarding information".
The Richmond Fed is one of 12 regional reserve banks that are part of the USA central bank.
The Richmond Fed said in a statement that Mr Lacker will be replaced in an acting capacity by first vice-president Mark Mullinix. It said that once the bank's board of directors learned of the outcome of the government investigations, it had taken appropriate actions.
In 2009, Subramanian Swami and GVL Rao alleged that the EVMs had been tampered with after the Congress party came back to power. He said that "someone joked, saying: ' Ab toh ho gaya (Now we're done for)'", creating an impression of something gone amiss.
Anxious about what could have happened to his daughter, her father reported her missing to the Tucson, Arizona police. Police say they have investigated more than 2,200 leads since the girl's disappearance nearly five years ago.
Yates was sacked in January as acting attorney general after she refused to defend the Trump administration's first travel ban. Nunes said on Tuesday he has "no idea" why Democrats would call for him to step aside from the investigation.
The Creators Update will begin to roll out on April 11, and it will proceed in phases, according to the company. However, Microsoft's own Project Scorpio is slated to gain support for mixed reality content by 2018.
In contrast just 5.5 per cent of Danish babies cry for more than three hours a day, and only 6.7 per cent of German babies. Colic has always been defined as infant crying that lasts longer than three hours a day for at least three days a week.
On Sunday, The Vertical's Adrian Wojnarowski reported that Rose will miss the rest of the 2016-17 season with a torn meniscus. Rose tore the ACL in his left knee during the 2012 playoffs and missed the entire following season.
The Palestinian health ministry, meanwhile, confirmed that a Palestinian was shot dead by Israeli police in East Jerusalem . Israeli police say they have apprehended a Palestinian who stabbed three people in the old city of Jerusalem .
When asked if the former presidential candidate would run again in the future, her daughter responded , "I don't think so". But I think we all need to be asking ourselves that question periodically, ' she added. "I don't think so", she said.
Their tactics on health care prompted yet another call for party unity this week from House Speaker Paul Ryan. Noisy and united Democratic opposition to Trump's healthcare bill made it deeply unpopular in the electorate.
Day ready for Masters challenge
The Northern Irishman led the tournament going into the final round in 2011 but carded an ugly 80 to blow his chances. He's had a strong 2017 to date, too, with three finishes in the top seven in his first three events. "I was torn.
NWS: Risk of Severe Thunderstorms Today
Parts of the Landstown area saw damage, with roofs missing and chunks of siding pulled off homes, with contents spilling out. We will climb into the mid 80s Tuesday and Wednesday with a cold front bringing in a slight chance for rain Wednesday.
Dalai Lama arrives in Assam on his way to Arunachal Pradesh
Guest of India and sworn enemy of the People's Republic of China- the 14th Dalai Lama is the person of interest this week. He is expected to take part in Namami Brahmaputra festival and deliver a speech at the Gauhati University on Sunday.
Negotiator denies UK is blackmailing EU on security
The two issues had been mentioned side by side because they were "all bound up in our membership of the European Union", he said. Brexit Secretary David Davis has said this is an important step in giving certainty to businesses, workers and consumers.
Pacers bring back Lance Stephenson to help stretch run
While Stephenson had a rocky first tour in IN, he is just 26 years old and is likely coming to the Pacers with something to prove. It's essentially only a one year deal as the first season will only be seven regular season games plus the postseason.