Fed officials see ‘audit’ bill as threat to independence

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Charles Plosser is the latest Federal Reserve official to speak out against the "Audit the Fed" bill that could lead to greater political interference in monetary policy decisions.

"The bill is not really about an audit in the usual accounting or financial sense of the term," Plosser, the Federal Reserve Bank of Philadelphia president, said yesterday.

"Rather, this proposal to strike that exemption for monetary policy is an attempt to reduce the independence of the central bank through the threa

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