Top Federal Reserve Officials With Known Links To China Still Have Their Jobs, Senate Republican Report Says

The Chinese government carried out a decade-long information theft campaign against the Federal Reserve, a report released Tuesday from Republican members of the Senate Committee on Homeland Security and Governmental Affairs revealed.

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. The report found that China — which holds nearly $1 trillion in Treasury securities — has used talent plan recruitment and promises of academic positions in an effort to gain influence and glean information from the central bank.

“The Chinese government makes no secret of wanting to be the world superpower,” the report said. “No sector or institution is off limits, and China has shown that it will use any means necessary to achieve its goals.”

China has been conducting its campaign against the Federal Reserve since at least 2013, according to the report, with investigators identifying 13 “persons of interest” at eight of the 12 regional Federal Reserve Banks as of 2015, based on their international travel patterns and other factors. The report details five more recent case studies of China seeking sensitive information from American economists, with four of the mentioned individuals retaining their employment at the central bank, a committee aide told CNN. – READ MORE