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Toomey Chides Fed for Withholding Documents in Raskin Fight

  • Fed has documents related to now-withdrawn nominee Raskin
  • Reserve Trust master-account issue led to nomination blockade
Pat Toomey
Pat ToomeyPhotographer: Tom Williams/CQ Roll Call/Bloomberg

Senator Pat Toomey is again demanding transparency by the Federal Reserve after learning the central bank withheld documents he and other Republicans sought related to former Fed nominee Sarah Bloom Raskin during her confirmation fight.

“It’s hard not to see this as a gesture of contempt for the Senate,” Toomey, the top Republican on the Banking Committee, said in an interview with Bloomberg News on Wednesday. He wants a new law forcing the Fed to be more transparent. “Something has to be done.”