Senators Push Legislation Giving Fed an Independent Watchdog (1)

Senators Rick Scott and Elizabeth Warren are pushing for an independent watchdog at the Federal Reserve to “aggressively hold” senior Fed officials accountable.

Scott, a reliable Trump ally, and Warren, a progressive Democrat, urged Chair Jerome Powell Tuesday to back their legislation, which would make the Fed’s inspector general a presidentially appointed post requiring Senate confirmation rather than an internally selected position.

“The Fed IG is charged with overseeing and holding accountable the very same officials he is hired by and serves at the pleasure of. This creates an unavoidable conflict of interest,” the senators wrote.

A Federal Reserve ...