A Senate Republican said in a report on Tuesday that China has been hiring Federal Reserve economists for more than a decade to disclose sensitive and private information about American economic decisions in an effort to influence the central bank.
Sen. Rob Portman of Ohio, the top Republican on the Homeland Security Committee, released a report detailing what Senate investigators referred to as “long-running and brazen actions by Chinese officials and certain Federal Reserve employees” to imitate China’s strategy for infiltrating the science and technology industries. It entails enlisting sector specialists to give confidential data or study in return for rewards such as money or other incentives, the report claimed.
The research stated that the Fed has failed to successfully fight the threat and lacks the counterintelligence skills or suitable policies to thwart China’s influence campaign, which includes attempts to learn about interest-rate decisions. It requests that Congress pass bicameral legislation that, among other things, would make publicly sponsored research more secure.
The Chinese government is targeting American economic and monetary policies, according to Portman. “This inquiry makes apparent that China’s malign efforts at influence and information theft are not restricted to scientific and technology disciplines,” Portman said in a statement.
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