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May 7, 2010

Sen. Sanders Withdraws Fed Oversight Measure
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Another amendment to increase Congresional oversight of the Federal
Reserve also failed Thursday following pressure from the White House.
Independent Senator Bernie Sanders had proposed to subject the Fed’s
interest-rate decision-making to a congressional audit. But after Obama
administration officials intervened, Sanders agreed to a compromise that
will require the Fed to provide more details about its lending during
the financial crisis and subject it to a one-time audit and review.



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