The Federal Reserve economists have been targets of the Chinese Communist Party (CCP) for years, a report (pdf) made available on July 26 by the Senate Committee on Homeland Security and Governmental Affairs indicates.
“China considers financial knowledge and economic capability to be a lynchpin to its military modernization efforts,” the report said.
The report revealed how the regime attracted American professionals throughout its decades of espionage. Certain identifying information of individuals had been removed, “At the request of the Federal Reserve Board, to avoid interfering with any ongoing investigations, and in keeping with the Committee’s practice,” the report said.
The Targets
The CCP uses a number of tactics to target Federal Reserve officials, ranging from outright threats and coercion, to softer tactics, such as sponsorship. “The motivation, however, is the same: China obtaining access to sensitive economic and monetary policy information,” the report said….