The Republican-controlled Congress wants more oversight of the Fed. Wow. Aren’t these the same guys who were willing to shut down government by refusing to pay our bills? Now there’s a group of responsible statesmen.
What I’d like to see is some real oversight of Congress. Of course, this is impossible because the Congress would have to approve it.
Wouldn’t it be poetic justice to have Janet Yellen oversee the fiscal machinations of Congress? This gerrymandered-elected Congress is so abysmal that its approval ratings have consistently been in the teens. Meanwhile, though not perfect, the Fed has been one of the reasons the U.S. has come back from the financial Armageddon to have the best economy in the world. So it is logical that this dysfunctional Congress would want to destroy the Fed as we know it.