There’s been a leak at the Federal Reserve.
In a statement on Friday, the Fed said its in-house economic forecasts compiled by staff ahead of the June FOMC meeting were accidentally published on June 29.
And so as a result, the Fed published those documents on its website, and you can view them here.
The documents include projections for the unemployment rate, inflation, and gross domestic product.
These projections are not, however, the forecast from the FOMC — the Fed committee that establishes monetary policy — or any of its members, but is more like the kind of projection that you’d get from any economist on Wall Street.
But this leak comes at a time when the Fed chair Janet Yellen is under scrutiny for a bigger leak that happened in 2012. In December, we learned that confidential Fed documents ahead of that meeting ended up in a private investor newsletter before they should have.
During her most recent biannual testimony before Congress, Yellen was grilled about the fact that the Fed has not yet responded to a subpoena for documents. Congressman Sean Duffy said the Fed was jeopardizing the investigation, although Yellen countered that the board is fully cooperative.
The leak on Friday, it seems, isn’t quite as big of a deal. But while questions around the Fed’s bigger, unresolved leak continue, this is simply not a good look.
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