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We're not expecting to hear "Exclusive: The cocaine-fuelled prostitution orgy where Bernanke and Greenspan agreed to remove dress shirts from the basket of goods used to measure inflation, replacing them with streaming video services and triggering a rise in the base rate from 5.25% to 5.5%"
> Many experts are skeptical about the criminal group’s announcement. The Federal Reserve is a high-profile target, and a data breach could have serious repercussions. Many believe that the group’s announcement is just for attention.
"Many." Sounds like potential propaganda to me. Who are these "many?"
Placing a bet this was a Windows system, just as all of the other recent major "hacks" were.
Yea. Windows sucks, but that is often off topic.
What data does the Fed actually deal with? The article mentions "Americans' banking secrets" as if the risk is to individuals but ... to oversee banks, does it need the particulars of individual account holders? Or is this information about banks and their overnight borrowing (i.e. should be "American banks' secrets")? Or is this like, pending drafts of various policy reports and granular data from which summaries wo…
FedACH processes roughly half of all ACH transfers, which include effectively all payroll direct deposit transactions in the US.
What data does the Fed actually deal with? The article mentions "Americans' banking secrets" as if the risk is to individuals but ... to oversee banks, does it need the particulars of individual account holders? Or is this information about banks and their overnight borrowing (i.e. should be "American banks' secrets")? Or is this like, pending drafts of various policy reports and granular data from which summaries wo…
Transactions above $10k get reported. Reported to who? Is it the Fed? If that data got stolen, that would be enormous. If it's technical analysis data ("In October 1957, Idaho produced X tons of potatoes..."), then it's less interesting.
Earlier quoted context omitted.
"Many." Sounds like potential propaganda to me. Who are these "many?"
The use of "many" in such contexts by journalists (and human/AI entities who choose to write like journalists, as in this case) is a shim used to make personal opinion seem more objective.
There were many (almost all) journalists and intelligence professionals that claimed the Hunter Laptop was not real… except of course it was and entered into evidence in his gun trail and conviction recently.
Earlier quoted context omitted.
They're one of the most powerful, and one of the most scrutinized. Keeping them insulated from political pressure is incredibly important. Otherwise you end up with a monetary policy of "drastically cut rates right before the election to protect the incumbent".
> "drastically cut rates right before the election to protect the incumbent". They're not immune to political pressure. They really should be raising rates again (housing prices going up, stock market at all time highs, inflation still not under control) and aren't for exactly that reason.
Earlier quoted context omitted.
They're one of the most powerful, and one of the most scrutinized. Keeping them insulated from political pressure is incredibly important. Otherwise you end up with a monetary policy of "drastically cut rates right before the election to protect the incumbent".
If they are not beholden to the political incumbent, they will be beholden to a shadow org of conflicting interests. And this shadow org away from public spotlight is the problem