Bloomberg reports that the “Federal Reserve regional bank presidents are trying to ward off congressional efforts to weaken their clout, saying the moves may jeopardize monetary policy independence.”
Representative Ron Paul, a Texas Republican who has called for abolishing the Fed, has gained 307 co-sponsors for legislation to require an audit of the central bank, including monetary policy. Bernanke and other Fed officials oppose the bill.
“Fed’s Regional Chiefs ‘Fight’ for Monetary Policy Independence”
Bloomberg reports that the “Federal Reserve regional bank presidents are trying to ward off congressional efforts to weaken their clout, saying the moves may jeopardize monetary policy independence.”
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