Yellen met with Medley.
Rep. Jeb Hensarling, a Texas Republican who heads the Financial Services Committee, continues to chase after the Fed in an investigation into who leaked details of the Fed minutes to Medley Global Advisors.
The Fed initially declined to respond to his letter asking for the names of Fed officials who met with Medley. Janet Yellen revealed yesterday that she was one of them, although the meeting was 3 months before the leak. She met with Medley's Regina Schleiger on June 11, 2012, "to hear her perspectives on international developments," Yellen said.
It reflects poorly on the Fed that she met with a firm that charges $2500 to $10,000/month for research.
In any case, Hensarling isn't backing down. He said the Fed's internal controls for leaks are insufficient and a House panel will continue its investigation. He said he understood that that the Fed's internal probe had been dropped earlier at the request of several members of the Fed's policymaking body.
What Yellen will bring to Humphrey Hawkins
