{"id":3796,"date":"2010-10-05T12:28:28","date_gmt":"2010-10-05T12:28:28","guid":{"rendered":"http:\/\/zmetro.com\/?p=3796"},"modified":"2010-10-05T12:28:28","modified_gmt":"2010-10-05T12:28:28","slug":"special_report","status":"publish","type":"post","link":"https:\/\/www.zmetro.com\/?p=3796","title":{"rendered":"Special Report: The ties that bind at the Federal Reserve"},"content":{"rendered":"<p><a HREF=\"http:\/\/us.mobile.reuters.com\/article\/idUSTRE68S01020100930?ca=rdt\">Kristina Cooke, Pedro da Costa and Emily Flitte<\/a>:<\/p>\n<blockquote><p><I>NEW YORK\/WASHINGTON (Reuters) &#8211; To the outside world, the Federal Reserve is an impenetrable fortress. But former employees and big investors are privy to some of its secrets &#8212; and that access can be lucrative.<\/p>\n<p>On August 19, just nine days after the U.S. central bank surprised financial markets by deciding to buy more bonds to support a flagging economy, former Fed governor Larry Meyer sent a note to clients of his consulting firm with a breakdown of the policy-setting meeting.<\/p>\n<p>The minutes from that same gathering of the powerful Federal Open Market Committee, or FOMC, are made available to the public &#8212; but only after a three-week lag. So Meyer&#8217;s clients were provided with a glimpse into what the Fed was thinking well ahead of other investors.<\/p>\n<p>His note cited the views of &#8220;most members&#8221; and &#8220;many members&#8221; as he detailed increasingly sharp divisions among the officials who determine the nation&#8217;s monetary policy.<\/p>\n<p>The inside scoop, which explained how rising mortgage prepayments had prompted renewed central bank action, was simply too detailed to have come from anywhere but the Fed.<\/I><\/p><\/blockquote>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kristina Cooke, Pedro da Costa and Emily Flitte: NEW YORK\/WASHINGTON (Reuters) &#8211; To the outside world, the Federal Reserve is an impenetrable fortress. But former employees and big investors are privy to some of its secrets &#8212; and that access can be lucrative. On August 19, just nine days after the U.S. central bank surprised [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/3796"}],"collection":[{"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3796"}],"version-history":[{"count":0,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/3796\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}