Federal Reserve's Stance on Data Security

In a recent Senate Banking Committee hearing, Jerome Powell, the Chair of the United States Federal Reserve, addressed concerns regarding data security and unauthorized access to the Fed's protected systems. Powell confidently stated that there has been no evidence or attempts by Elon Musk or his Department of Government Efficiency (DOGE) team to access the Federal Reserve's sensitive data and systems.

Commitment to Transparency

When questioned about the protocols in place should such an attempt occur, Powell emphasized his commitment to transparency and accountability. He assured the committee that any attempts to undermine the Fed's independence or to breach its secure systems would be reported immediately, reinforcing the importance of maintaining the integrity of the Federal Reserve's operations.