Senator Drops Proposal to Audit Fed’s Monetary Policy Decisions
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Senator Bernard Sanders dropped a proposal to audit the Federal Reserve’s monetary policy that the central bank had said posed a threat to its independence, broadening support for greater central bank disclosure.
The Vermont independent narrowed the scope of an amendment to financial-overhaul legislation to “a one-time audit of all loans and other financial assistance,” starting in December 2007. He also included a review of how regional Fed bank directors are appointed.