Ex-SEC heads look to limit Fed’s powers

federal reserve

A working group led by two former heads of the Securities and Exchange Commission (SEC) has disputed the Obama administration's plans to task the Federal Reserve with responsibility for systemic risk.

The Investors' Working Group said on Wednesday that there were "serious concerns" with the administration's proposals for the central bank.

"The Fed has other, potentially competing responsibilities - from guiding monetary policy to managing the vast US payments system," the report said. "Its credi

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