... China holds a large amount of U.S. foreign debt (approximately $816 billion as of October 2024). The data Rogers shared with his co-conspirators could allow China to manipulate the U.S. market, in a manner similar to insider trading. Gaining advance knowledge of U.S. economic policy, including advance knowledge of changes to the federal funds rate, could provide China with an advantage when selling or buying U.S. bonds or securities. ... https://www.justice.gov/usao-dc/pr/...l-reserve-indicted-charges-economic-espionage And per the One Cockroach theory ...
Did not know that the Fed had trade secrets. LOL Wonder what they used as the tactic to get him to spy? Honey trap I bet. An agent posing as graduate student which is probably half his age. LOL and besides they do realize that even though China is the largest holder of US's foreign debt but the foreign debt only counts less than 1% of the entire debt of USA? So market manipulation even if China carries it out would hardly have any impact on USA's debt.