U.S. Congressional Task Force Plans Comprehensive Evaluation of Federal Reserve

The head of a new congressional committee aimed at strengthening congressional oversight of the Federal Reserve plans to conduct a wide-ranging review of how the Fed makes interest rate decisions, including whether it should put controlling inflation ahead of safeguarding jobs, according to foreign media reports. U.S. Rep. Frank Lucas, a Republican, said, ‘Many of my colleagues on the Financial Services Committee and the chairman want to discuss this issue.’ The first hearing of the Task Force on Monetary Policy, Treasury Market Resilience and Economic Prosperity will be held next week. They will be asking questions about the dual mission and how that affects the top priority of price stability.