The Traderszone Network

Published in TZ Latest News 13 March, 2015 by The TZ Newswire Staff

New York Fed in crosshairs of Senate Banking committee

The Senate Banking Committee is zeroing in on the New York Federal Reserve Bank in its reform effort aimed at the U.S. central bank. Committee Chairman Richard Shelby discussed the structure of the New York Fed with Fed Chair Janet Yellen in a meeting this week, a Senate Banking aide said on Friday. The Alabama Republican has expressed interest in a plan by the outgoing Dallas Fed president that includes stripping the New York Fed of its permanent vote on policy and transferring Wall Street oversight from New York to other regional banks.

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