“Congress to debate bill to check Fed’s powers”

The Financial Times is reporting the Barney Frank may introduce elements of HR 1207 to Congress:

The Federal Reserve faces more oversight from the US Congress under a bill that will be voted on before the end of the year, according to leading Democrats.

Read the rest here.

The major question is whether or not this will lead to a watering down of the Audit bill.  Stay tuned for more.