U.S. official says must protect Fed's independence
WASHINGTON |
WASHINGTON May 6 (Reuters) - The Obama administration opposes "in its current form" a proposal that would tighten oversight of the Federal Reserve, a U.S. official said on Thursday.
The proposal by Senator Bernie Sanders would expand congressional investigators' powers to audit the Fed. Sanders said the aim is boosting transparency at the central bank.
Deputy Treasury Secretary Neal Wolin said the administration agrees with the need for transparency but would be concerned about anything with the potential to encroach on the central bank's independence.
(Reporting by Caren Bohan and Ross Colvin; Editing by Vicki Allen)
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Comments (1)
ccharles wrote:
The Fed Reserve has always been closed. They never give up any info. And this is who Obama wants to be in charge of his Business reform. Alot of transperncy there.
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