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Dallas Fed president warns Republicans against making central bank account for itself

Section: Daily Dispatches

Fed's Fisher Tells Congress: Don't Mess with Central Bank

By Matthew Boesler and Michael McKee
Bloomberg News
Wednesday, November 5, 2014

NEW YORK -- Senate Republicans should resist the temptation to erode Federal Reserve independence after victory in mid-term elections, Dallas Fed President Richard Fisher said.

"Think about this: Here's a Congress that can't even get its own budget together. Do you want them running the central bank?" Fisher, a former deputy U.S. trade representative under President Bill Clinton, said today in an interview on Bloomberg Television.

Republicans who already run the House won command of the Senate yesterday and will take charge of the Senate Banking Committee, which oversees the U.S. central bank, when the next Congress convenes in January.

Lawmakers have sponsored several bills that propose changes in the way the Fed conducts monetary policy and would subject the institution to greater congressional scrutiny. ...

... For the remainder of the report:

http://www.bloomberg.com/news/2014-11-05/fed-s-fisher-tells-congress-don...



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