Senator from Wyoming. Thank you, Madam President. I rise to support common sense legislation that will bring transparency and accountability to the Federal Reserve Board and Consumer Financial Protection Bureau. Currently, the Inspector General of the Fed is appointed by the Fed chair. This is highly unusual, and it means that the Inspector general has no independence from the management of the Fed and is susceptible to influence. This is an unacceptable arrangement. (06:32–06:39)
CLAIM
Asserts that the Federal Reserve's Inspector General is appointed by the Fed chair.
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