Following Hearing, Senators Warren, Scott Call Out Conflicts of Interest at Federal Reserve, Reiterate Need For an Independent Inspector General
Press Release
Issues: Government Operations
"This was a deeply troubling set of answers. It revealed that -- because the Fed Inspector General's salary is in part based on the bonuses earned by other Fed employees -- there is a structural, financial incentive for the IG to overlook or downplay wrongdoing by those Fed officials."
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"These types of conflicts are why we have introduced legislation that would make the Federal Reserve Inspector General a Senate-confirmed position, providing the office with much-needed independence from the agency for which it is supposed to act as a watchdog."
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