New chair of US MPC wants to abolish Fed
Friday 10 December 2010 - by Nicola York
Outspoken US Republican House representative Ron Paul is the surprise choice to head up the subcommittee in Congress which will oversee the Federal Reserve.
"By working together, we will honor our commitment to aggressive oversight, reform of the GSEs, and monitoring the implementation of the Dodd-Frank Act to ensure more jobs aren't lost to unnecessary regulations on community banks and businesses. We are ready to hit the ground running, and I look forward to continuing our work in the next Congress."
Other appointments include Rep. Shelley Moore Capito as chairwoman of the Financial Institutions Subcommittee, Rep. Scott Garrett, chairman of the Capital Markets and Government-Sponsored Enterprises Subcommittee and Rep. Gary Miller as chairman of the International Monetary Policy Subcommittee.
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