Independence of the Federal Reserve
Witnesses testified about proposals to expand the role and authority of the Federal Reserve. The new powers would give the Federal Reserve r… read more
Witnesses testified about proposals to expand the role and authority of the Federal Reserve. The new powers would give the Federal Reserve responsibility for identifying systemic risks and regulating large financial institutions. Several members and witnesses expressed concerns that the new powers might be detrimental, especially since the Federal Reserve consistently failed to recognize past financial catastrophes until they were well under way. close
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