View Full Version : White House Enters Fed Audit Debate

05-06-2010, 02:13 PM
From HuffPo (http://www.huffingtonpost.com/2010/05/06/white-house-explains-oppo_n_566449.html):

The Obama administration offered to date its most direct opposition to an amendment to Wall Street reform legislation that would allow for an audit of the Federal Reserve, though administration officials declined to say whether the president would veto a bill that included the proposal.

In a briefing on Thursday, Deputy Secretary of the U.S. Department of the Treasury, Neal Wolin expressed concern that the amendment, authored by Sen. Bernie Sanders (I-VT), would damage the independence of the Fed -- either in perception or practice. The administration has pushed a side amendment that Wolin said would accomplish the goals of Sander's proposal but would not bring politics into monetary policy.