June 16, 2010 / 9:57 PM / 9 years ago

US House eases pressure on Federal Reserve

WASHINGTON, June 16 (Reuters) - U.S. House lawmakers agreed on Wednesday to exclude monetary policy from audits of the Federal Reserve and to challenge a Senate proposal to make the head of the New York Fed a political appointee.

Lawmakers are working to nail down the sweeping financial regulatory overhaul, aiming for a final bill on President Barack Obama’s desk by July 4.

The Senate must agree to the House proposals for them to be included in the final legislation. (Reporting by Kim Dixon, Kevin Drawbaugh, Andy Sullivan, Rachelle Younglai)

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