N.Y. Fed's independence could be at risk in regulatory revamp

06/15/2010 | Bloomberg

Lawmakers meeting to draft the final version of regulatory-revamp legislation are expected to put the Federal Reserve Bank of New York at the center of a proposed role for the Fed as supervisor for financial stability. However, the New York Fed's position could threaten its independence. For example, lawmakers want the head of the New York Fed to be appointed by the president.

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