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Politics
Economics

China Seeking to Infiltrate Fed, Senior Senate Republican Says

  • ‘P-Network’ of Fed staffers viewed as persons of interest
  • Fed’s Powell pushes back, voices ‘strong concerns’ over report
The report said the Fed had identified 13 persons of interest with connections to Chinese talent recruiters.

The report said the Fed had identified 13 persons of interest with connections to Chinese talent recruiters.

Photographer: Stefani Reynolds/Bloomberg

A senior US Republican lawmaker accused China of a broad campaign to obtain confidential information from the Federal Reserve, including recruiting central bank staffers and detaining a Fed employee visiting Shanghai.

The report, from Ohio Senator Rob Portman, said the Fed’s own investigations had identified several employees with connections to Chinese talent recruiters, as well as efforts to gain insight into monetary policy and access to internal data.