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House Republicans Accuse Fed Chairwoman of ‘Partisan Politics’

By Kate Ackley and JM Rieger

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House Republicans accused Federal Reserve Chairwoman Janet L. Yellen of working in concert with the Obama administration Wednesday, as they attacked her opposition to greater congressional oversight of the central bank. “I hear you taking a Democrat line,” Rep. Sean P. Duffy, R-Wis., told Yellen in an especially heated exchange during the Fed leader’s semi-annual appearance before the House Financial Services panel. The Republicans were taking on Yellen’s opposition to legislation nicknamed “Audit the Fed,” that would set up new reporting responsibilities on internal monetary policy discussions. Yellen and other Fed officials have said the measures would undermine the central bank’s independence.

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