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Sen. Sanders Withdraws Fed Oversight Measure

HeadlineMay 07, 2010

Another amendment to increase congressional oversight of the Federal Reserve also failed Thursday following pressure from the White House. Independent Senator Bernie Sanders had proposed to subject the Fed’s interest rate decision-making to a congressional audit. But after Obama administration officials intervened, Sanders agreed to a compromise that will require the Fed to provide more details about its lending during the financial crisis and subject it to a one-time audit and review.

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