Proposed expansion of Fed's powers worries some lawmakers

06/18/2009 |

The Obama administration's regulatory-overhaul proposal includes an expansion of the Federal Reserve's authority to oversee risk across the financial system. As soon as the proposal was announced, senior lawmakers began voicing concerns about the measure. Sen. Christopher Dodd, D-Conn., said many lawmakers did not have "a lot of confidence in the Fed at this point."

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