Feb 12 (Reuters) - Passage of a bill that would expose the U.S. Federal Reserve’s policymaking to unprecedented political scrutiny would scare financial markets, a Federal Reserve official said on Thursday.
“I think it would scare the heck out of people,” said Dallas Fed President Richard Fisher in an interview with CNBC, when asked how the bill, if it became law, might affect markets. “They want to interfere with monetary policy,” he said of supporters of the bill in Congress.
Fisher is a critic of the Fed’s current monetary policy, but has been a strong and vocal supporter of its independence that he and his colleagues say would be compromised by the bill.
Republican Senator Rand Paul, a potential 2016 presidential candidate, re-introduced his audit the Fed bill last month. (Reporting by Ann Saphir; Editing by Chizu Nomiyama)