Representative Ron Paul wants to end the Federal Reserve. He has broad support in the House, though not the Senate, for a milder measure that would allow the Government Accountability Office to audit Fed monetary policy. Outlook: If passed, could face veto.
Senator Christopher Dodd is seeking to take away the Fed's bank-supervisory powers. Outlook: Dodd seems to be one of the few strong proponents of this approach.
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Bloomberg LP, the new parent of BusinessWeek, is suing to learn what collateral the Fed received for emergency loans to financial institutions during the crisis. Outlook: The Fed has already lost in federal district court and could lose on appeal as well.