Yellen tells Congress Fed is ‘most transparent in the world'
Congressman proposes legislation to tie Fed to a monetary policy rule
Federal Reserve chair Janet Yellen yesterday told a Congressional committee the Fed is "the most transparent central bank to my knowledge in the world", responding to tough questions from representatives including Bill Huizenga of Michigan who earlier this month introduced a bill aiming, in his words, to lift the "veil of secrecy" that surrounds the Fed.
Huizenga outlined for Yellen the main points of his proposed Federal Reserve Accountability and Transparency (Frat) Act, which Yellen confirmed
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