{"id":9183,"date":"2015-06-18T04:37:03","date_gmt":"2015-06-18T09:37:03","guid":{"rendered":"http:\/\/olduvai.ca\/?p=9183"},"modified":"2015-06-18T04:37:03","modified_gmt":"2015-06-18T09:37:03","slug":"today-financial-journalism-suffered-an-epic-failure","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=9183","title":{"rendered":"Today Financial Journalism Suffered An Epic Failure"},"content":{"rendered":"

Today Financial Journalism Suffered An Epic Failure<\/a><\/h3>\n

Earlier today\u00a0we reported<\/a>\u00a0about a very sad development for the freedom of speech, or at least the illusion thereof, when one of, if not the best, critical Federal Reserve reporter in the mainstream media, WSJ’s Pedro da Costa founds he was no longer “invited” to the Fed’s quarterly press conference. His transgression: daring to ask Yellen some very uncomfortable questions during the March 2015 press conference. To wit:<\/p>\n

\n
PEDRO DA COSTA. Pedro da Costa with Dow Jones Newswires. I guess I have two follow-ups, one with regard to Craig\u2019s question. So, before the IG\u2019s investigation, according to Republican Congressman Hensarling\u2019s letter to your office, he says that, \u201cIt is my understanding that although the Federal Reserve\u2019s General Counsel was initially involved in this investigation, the inquiry was dropped at the request of several members of the FOMC.\u201d Now, that predates the IG.\u00a0I want to know if you could tell us who are these members of the FOMC who struck down this investigation? And doesn\u2019t not revealing these facts kind of go directly against the sort of transparency and accountability that you\u2019re trying to bring to the central<\/strong><\/div>\n

CHAIR YELLEN. That is an allegation that I don\u2019t believe has any basis in fact. I\u2019m not going to go into the details, but I don\u2019t know where that piece of information could possibly have come from.<\/p><\/blockquote>\n

As it turns out, the allegation did have\u00a0“basis in fact”\u00a0<\/strong>because two months after this exchange, we learned that not only was there a parallel investigation into the Fed’s leaks in addition to the Hensarling subpoena,\u00a0a criminal one by the Department of Justice at that<\/strong>, but that the Fed had indeed declined to comply with the subpoena as Pedro suggested.<\/p>\n

The former Reuters reporter also had this testy exchange.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Today Financial Journalism Suffered An Epic Failure Earlier today\u00a0we reported\u00a0about a very sad development for the freedom of speech, or at least the illusion thereof, when one of, if not the best, critical Federal Reserve reporter in the mainstream media, WSJ’s Pedro da Costa founds he was no longer “invited” to the Fed’s quarterly press […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[3151,4593,303,305,6426,4512,451,462,6427,1494,6429,861,6428],"class_list":["post-9183","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-department-of-justice","tag-failure","tag-fed","tag-federal-reserve","tag-financial-journalism","tag-fomc","tag-janet-yellen","tag-journalism","tag-pedro-da-costa","tag-press","tag-press-conference","tag-wall-street-journal","tag-wsj"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9183"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9183\/revisions"}],"predecessor-version":[{"id":9184,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9183\/revisions\/9184"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}