What sensitive US financial data did former Fed advisor John Rogers allegedly leak to China?

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John Rogers Allegedly Leaked Proprietary Economic Data and Federal Reserve Deliberations to China

Former Federal Reserve advisor John Harold Rogers, a 63-year-old US national, has been charged with leaking sensitive US financial data to China. Between 2010 and 2021, Rogers allegedly transmitted trade-secret information concerning proprietary economic data sets and internal discussions from the Federal Reserve Board and its Federal Open Market Committee (FOMC). This intelligence, obtained through his employment at the FRB, could have provided China with an advantage in manipulating US markets.
Trade Secrets and Proprietary Economic Data Sets

Rogers is accused of exploiting his position as a senior advisor within the FRB's Division of International Finance to solicit and acquire trade-secret information. Specifically, this included data related to proprietary economic data sets that were not publicly available. The indictment alleges that Rogers electronically transferred this information to his personal email account or printed it before traveling to China, in direct violation of FRB policies.
Deliberations on Tariffs and Federal Reserve Policy

Beyond specific economic data sets, Rogers also allegedly leaked confidential deliberations concerning US trade policy, including discussions on tariffs against China. Furthermore, information related to changes in the federal funds rate, a key tool of monetary policy, was reportedly among the data shared. The FBI stated that advance knowledge of such financial policies could enable China to gain an advantage when engaging in transactions involving US bonds or securities.
Covert Meetings and Financial Remuneration in China

Upon his arrival in China, Rogers is said to have shared this sensitive information during clandestine meetings, often held in hotel rooms. These meetings occurred while Rogers was ostensibly working as a part-time lecturer at the University of Shandong. For his alleged services, Rogers received approximately $450,000 in payments, along with additional benefits such as gifts, airfare, lodging, and dining expenses, and even an offer for a beach vacation.

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What sensitive US financial data did former Fed advisor John Rogers allegedly leak to China?

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