IS CONGRESS DRIVING OVER THE FEDERAL RESERVE?
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Posted On: 11/21/2015 1:33:00 PM
IS CONGRESS DRIVING OVER THE FEDERAL RESERVE?
Fed pushes back as Congress eyes its billions. By Zachary Warmbrodt: Even as members of Congress are slamming the Federal Reserve for being too political with its monetary policy, they are plotting to use the central bank as a government piggy bank.
Congress is aiming to take billions out of the Fed's accounts to help pay for a new highway and transit bill, but the Fed is balking, registering "strong concerns about using the resources of the Federal Reserve to finance fiscal spending."
But members of Congress who consider the Fed money to be the only politically feasible way to fund a long-term transportation bill are wondering why the central bank didn't try to stir up opposition sooner. The Fed has clearly been in Congress's crosshairs since at least July.
Congress has until Dec. 4 to vote on a bill, whether it be a long-term deal or another temporary patch. The broad outlines of a deal could be announced as soon as Friday.
http://politico.pro/1T2j76F
Fed pushes back as Congress eyes its billions. By Zachary Warmbrodt: Even as members of Congress are slamming the Federal Reserve for being too political with its monetary policy, they are plotting to use the central bank as a government piggy bank.
Congress is aiming to take billions out of the Fed's accounts to help pay for a new highway and transit bill, but the Fed is balking, registering "strong concerns about using the resources of the Federal Reserve to finance fiscal spending."
But members of Congress who consider the Fed money to be the only politically feasible way to fund a long-term transportation bill are wondering why the central bank didn't try to stir up opposition sooner. The Fed has clearly been in Congress's crosshairs since at least July.
Congress has until Dec. 4 to vote on a bill, whether it be a long-term deal or another temporary patch. The broad outlines of a deal could be announced as soon as Friday.
http://politico.pro/1T2j76F
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