Portman: China Tried to Infiltrate Fed, and the Fed Is 'Questioning Its Own' Findings to Deny It

Portman: China Tried to Infiltrate Fed, and the Fed Is 'Questioning Its Own' Findings to Deny It


On Tuesday’s broadcast of Bloomberg’s “Balance of Power,” Senate Homeland Security Committee Ranking Member Sen. Rob Portman (R-OH) discussed a report from the committee’s minority staff finding that “For over a decade, China has engaged in a sustained malign influence and information theft campaign against the U.S. Federal Reserve,” and Fed Chair Jay Powell’s pushback against the report. Portman stated that the report is based on work done by the Federal Reserve itself, so “to the extent it’s being questioned, I guess I would say that the Fed is questioning its own report.”

Portman stated, [relevant remarks begin around 13:50] “Well, first of all, it’s not a surprise that our adversaries, in particular, China, are looking to make inroads in the Fed, just as they

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