Issa Says He’ll Focus on Fed in Investigative Role

U.S. Representative Darrell Issa, incoming chairman of the House Oversight and Government Reform Committee, said he wants to ensure the Federal Reserve is more transparent in its actions.

Speaking on Bloomberg Television today, Issa, a California Republican, said he is concerned that the Fed under Chairman Ben Bernanke is becoming “much more of an activist Fed.”

Issa said he meets with Bernanke this morning in Washington and hopes the Fed chairman will be responsive to the lawmaker’s concerns.

In his new role, Issa said he would expect Elizabeth Warren, who is advising President Barack Obama on establishing the new Consumer Financial Protection Bureau, to testify before his committee if asked.

Obama, appointing Warren to the post, bypassed the Senate confirmation process. The move has been questioned by some Republicans.

To contact the reporter on this story: Jeff Bliss in Washington at jbliss@bloomberg.net

To contact the editor responsible for this story: Mark Silva at msilva34@bloomberg.net

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