Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Hensarling Announces Intensified Fed Reserve Scrutiny for 2014
WASHINGTON (12/12/13)--What does the Federal Reserve get for its 100th birthday later this month?  Intense oversight.

House Financial Services Committee Chairman Jeb Hensarling (R-Texas) and Monetary Policy and Trade Subcommittee Chairman John Campbell (R-Calif.) Wednesday announced the "Federal Reserve Centennial Oversight Project" for 2014, calling it an "aggressive series of hearings…that will culminate with the development of legislation to reform how the nation's central bank operates."

Hensarling said his panel will "intensify and amplify" its oversight started in 2013 through a series of five hearings on the Fed and its conduct of monetary policy during.
 
"The Federal Reserve Centennial Oversight Project will be the most vigorous and sustained assessment and evaluation the Fed has received in its history," Hensarling said. "Our committee has an obligation to carefully scrutinize the Federal Reserve's decisions, especially since the Fed has either implicitly or explicitly assumed so many mandates and has, historically, been subject to little or no congressional oversight."

In addition to hearings, the oversight project will include: Research to examine a number of areas, including the Fed's multiple mandates; its role in the growth of the national debt; the central bank's accountability and transparency; the lines between monetary and fiscal policy; the Federal Reserve's independence; its role as lender of last resort; and the impact the Fed's monetary policy has on seniors and those nearing retirement.


 


RSS print
News Now LiveWire
Goodwill Industries latest to report data security breach http://t.co/gIaXNsT4Bk
7 hours ago
CUNA economist Schenk discusses regulators' focus on interest-rate risk. See CU Magazine: http://t.co/tW1p9rTSSv
9 hours ago
Fed issues annual report on general-use prepaid cards in gov't-administered payment programs. http://t.co/3zPhejSPZt
9 hours ago
Children in foster care face higher risk of identity theft via @NBCNews http://t.co/Dif0hCfBdA
9 hours ago
.@Cornerstone_CUL's leadership conference includes food drive for San Antonio food bank http://t.co/h2O8O4TxuD
10 hours ago