The House FinServ Domestic Monetary Policy and Technology Subcommittee today held a hearing on Dodd-Frank, QE3, and the transparency of the Federal Reserve, with GAO Financial Markets Managing Director Orice Brown testifying. Subcommittee Chairman Paul (R-TX) lauded the recent Fed audit regarding its emergency lending programs, and Ms. Brown stated that a follow-up report regarding the Fed performance review would be released by the end of October. Also testifying at a JEC hearing, Fed Chairman Bernanke defended the transparency and openness of the Fed, and also answered questions on a range of other issues (see Client Report MONPOLICY24). This report analyzes today’s FinServ Subcommittee hearing.

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