Subcommittee examines ways to reform the Federal Reserve

Published by the House Financial Services Subcommittee on Monetary Policy and Trade.

“The proposals under consideration today are all parts of a timely and fundamental review of America’s central bank. As Congressman Huizenga has rightly said, ‘With the Federal Reserve having more power and responsibility than ever before, it is imperative the Fed…become more transparent and accountable.’… The Federal Reserve without question needs to be accountable to the Congress, be subject to appropriate check and balances, and be understood in the context of inherent financial and economic uncertainty. It would benefit from rebalancing of centralized vs. federal elements in its internal structures.” — Alex J. Pollock, Distinguished Senior Fellow, R Street Institute