Sen. Sherrod Brown (D., Ohio) recently said the Senate Banking Subcommittee on Financial Institutions and Consumer Protection will hold a hearing to investigate allegations that Fed supervisors are too cozy with the banks they oversee following a report by nonprofit news organization ProPublica and the public-radio program "This American Life." Sen. Elizabeth Warren (D., Mass.) was among those who had called for such a hearing.
Another measure that could get more traction with Republicans in charge is Sen. Rand Paul's "Audit the Fed" legislation. The bill by the Kentucky Republican, a tea-party favorite, would open up the Fed's core monetary-policy deliberations to congressional scrutiny.
Sen. Sherrod Brown (D., Ohio) recently said the Senate Banking Subcommittee on Financial Institutions and Consumer Protection will hold a hearing to investigate allegations that Fed supervisors are too cozy with the banks they oversee following a report by nonprofit news organization ProPublica and the public-radio program "This American Life." Sen. Elizabeth Warren (D., Mass.) was among those who had called for such a hearing.
Another measure that could get more traction with Republicans in charge is Sen. Rand Paul's "Audit the Fed" legislation. The bill by the Kentucky Republican, a tea-party favorite, would open up the Fed's core monetary-policy deliberations to congressional scrutiny.
Read more: http://www.nasdaq.com/article/gop-senate-takeover-would-put-fed-under-microscope-20141104-00443#ixzz3I8cvN62f
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