Ex-Fed Advisor Indicted for Economic Espionage

John Harold Rogers, a former senior advisor with the Federal Reserve Board of Governors, has been indicted for economic espionage, accused of stealing and sharing confidential US financial information with the People's Republic of China. The Justice Department alleges that Rogers provided sensitive Federal Reserve and Federal Open Market Committee (FOMC) information to Chinese intelligence agents posing as students, receiving approximately $450,000 for his part-time teaching role at a Chinese university. The indictment suggests this espionage could enable China to manipulate US markets. Rogers, who served the Federal Reserve from 2010 to 2021, is charged with conspiracy to commit economic espionage and making false statements, which carry severe penalties. The case highlights concerns over China's expanded espionage efforts targeting US financial policies. The arrest underscores the US's commitment to prosecuting those who misuse government information for foreign adversaries.