Fed concerned about early trading after meeting

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Associated Press

Posted on September 24, 2013 at 11:00 AM

Updated Tuesday, Sep 24 at 11:03 AM

WASHINGTON (AP) — The Federal Reserve is concerned about suspiciously heavy trading of gold futures after its meeting last week that may have been triggered by a premature release of market-sensitive information.

In a statement, the central bank said that news organizations that receive embargoed information from the Fed agree to withhold information until the time set for its release. The Fed statement said, "We will be conducting follow-up conversations with news organizations to ensure our procedures are completely understood."

After the meeting, the Fed said it would hold off on slowing its $85-billion-a-month in bond purchases. That surprised markets and led to a huge afternoon of trading.

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