This morning, around 8:55 AM ET, the Federal Reserve said it would be releasing the minutes from its March 19-20 FOMC meeting at 9 AM (the normal release is scheduled for 2 PM).
The reason: due to some sort of error, the minutes were sent out early to a handful of individuals YESTERDAY at 2 PM.
The Federal Reserve said the minutes “were inadvertently sent early to a list of individuals who normally receive the minutes by email shortly after their usual release time. The individuals on the distribution list – primarily congressional employees and employees of trade organisations – received the minutes shortly after 2 p.m. Tuesday.”
According to Steve Goldstein at MarketWatch, it wasn’t just Congress and some lobbying firms that got the minutes a day ahead of schedule.
Some of Wall Street’s biggest banks did too, according to a list of email addresses the Fed sent to reporters.
“Most the people on the email list have addresses indicating they work at the House or Senate, but some are from financial services firms including Barclays, BNP Paribas, Carlyle, Citi, Goldman Sachs, J.P. Morgan Chase, Nomura, U.S. Bancorp, Wells Fargo,” writes Goldstein. (Bloomberg confirms.)
It’s unclear whether anyone traded on the release ahead of time.