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“Independent” Fed Lobbies GOP Against Audit
zerohedge.com / by Tyler Durden on 02/12/2015 21:50
Because nothing says “independence” like snuggling up to the newly Republican-controlled Congress. Having, in recent years, been accused of being too closely aligned with Democrats, WSJ reports that the Fed’s “Liaison Office” – which lobbies for the bank’s interest on Capitol Hill – has begun cultivatinmg relationships with the GOP in a desperate bid to evade Rand Paul’s “Audit The Fed” Bill.
As The Wall Street Journal reports,
As the Federal Reserve prepares to begin raising interest rates later this year, it is readying for what may be another big challenge in 2015: the shift to a Republican-controlled Congress.The Fed’s only Republican governor, Jerome Powell, has begun making the central bank’s case to the GOP, in public and private, against proposals Fed officials say could limit its independence. And the bank has hired and promoted Republicans within its Congressional Liaison Office since the November midterm elections, when the GOP won enough seats to take control of the Senate from the Democrats and expand its House majority.
It is unclear whether these efforts will overcome the perception among many Republicans that the liaison office, which lobbies for the bank’s interests on Capitol Hill, has in recent years been too closely aligned with Democrats, and hasn’t done enough to cultivate relationships within the GOP, according to current and former Hill staffers and financial-industry lobbyists.
The post “Independent” Fed Lobbies GOP Against Audit appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/02/15/independent-fed-lobbies-gop-against-audit-2/
