Taxi Study Finds Increase in Trips Between Fed, Banks Around FOMC Meetings

Study's author says findings suggest increase in information communications; Federal Reserve Bank of New York disputes assertions

A new study has found a jump in New York City taxi cab activity between the Federal Reserve Bank of New York and major Wall Street banks around the time of central bank policy meetings, and the study's author says the findings suggest an increase in informal communications between Fed employees and individuals in the private sector could be occurring.

The New York Fed strenuously disputed the study's assertions.