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Richard Shelby

  • WASHINGTON, March 13- As the Senate Banking committee pushes ahead with its agenda, one target emerging on both sides of the political aisle is the New York Federal Reserve Bank and its role in the financial industry. The New York Fed has come under increased pressure from lawmakers who say the bank is too cozy with Wall Street, a charge that gained attention from...

  • New York Fed in crosshairs of Senate Banking committee Friday, 13 Mar 2015 | 11:59 AM ET

    WASHINGTON, March 12- The Senate Banking Committee is zeroing in on the New York Federal Reserve Bank in its reform effort aimed at the U.S. central bank. The Alabama Republican has expressed interest in a plan by the outgoing Dallas Fed president that includes stripping the New York Fed of its permanent vote on policy and transferring Wall Street oversight from...

  • WASHINGTON, March 3- The Senate Banking Committee on Tuesday launched its effort to pursue reforms at the Federal Reserve, with the central bank's regional structure among the topics that came into the panel's cross-hairs. This month, outgoing Dallas Fed President Richard Fisher said the Fed should revamp its rules to address perceptions of conflicts of...

  • WASHINGTON, March 3- The chairman of the U.S. Senate Banking Committee said on Tuesday that the Federal Reserve is not immune from congressional oversight. Senator Richard Shelby said at a Fed reform committee hearing on Tuesday that the panel will explore reforming the Fed system, as the Alabama Republican and other lawmakers add pressure to the U.S. central...

  • WASHINGTON, Feb 24- Tough questions aimed at Federal Reserve Chair Janet Yellen from a rising force in the Democratic Party on Tuesday showed how the U.S. central bank is facing increasing pressure from both sides of the political aisle. "I urge you... to assess whether the leadership of the Fed's staff is on the same page as the Federal Reserve Board," Senator...

  • WASHINGTON, Feb 24- The Federal Reserve is preparing to consider interest rate hikes "on a meeting-by-meeting basis," Fed Chair Janet Yellen told a congressional committee on Tuesday in a subtle change of emphasis in how the U.S. central bank has spoken about its plans for its first rate hike since 2006.. In prepared remarks to the Senate Banking Committee, Yellen...

  • WASHINGTON, Feb 24- The Federal Reserve is preparing to consider interest rate hikes "on a meeting by meeting basis," Fed Chair Janet Yellen told a congressional committee on Tuesday in a subtle change of emphasis in how the Fed has been speaking about its plans for the first interest rate increase since 2006.. In prepared remarks to the Senate Banking Committee...

  • WASHINGTON, Feb 23- The Senate Banking committee is expected to hold a hearing next week on reforms aimed at the Federal Reserve, a Senate aide said on Monday, as lawmakers push for more transparency at the U.S. central bank. The Senate aide said the timing could change at the last minute, but for now, it was set for March 3. The Republican takeover of the Senate this year...

  • US Senate to hold Fed reform hearing on March 3-aide Monday, 23 Feb 2015 | 2:36 PM ET

    WASHINGTON, Feb 23- The Senate Banking committee is expected to hold a hearing next week on reforms aimed at the Federal Reserve, a Senate aide said on Monday, as lawmakers push for more transparency at the U.S. central bank. The hearing will be scheduled for the afternoon of March 3, the aide said. The new chairman of the Republican-led Senate Banking, Housing and...

  • *Senate committee expected to call hearing on bill- sources. A similar Fed audit bill passed the House of Representatives late last year and a hearing on Fed transparency is expected to be formally called by the Senate banking committee, according to people familiar with the matter. "We feel the current system works well, it's time-tested, and there are all kinds of...

  • WASHINGTON, Jan 29- The new Republican chairman of the U.S. Senate Banking Committee said on Thursday he was "very interested" in requiring a government audit of the Federal Reserve and its portfolio. Senator Richard Shelby, an Alabama Republican, said in an interview with Bloomberg TV that Congress should not function as an extra Fed governor, but it should have...

  • Fed eyes audit push as key political challenge in 2015 Thursday, 18 Dec 2014 | 1:00 AM ET

    Federal Reserve is lobbying to stem a rising threat to its independence as the "Audit the Fed" movement, once seen as usual background noise, looks set to gain momentum in 2015 when Republicans gain control of both houses of Congress. Fed officials are making their case for independence across Capitol Hill, reminding politicians of the damage that can come from...

  • WASHINGTON, Dec 9- Congressional negotiators raced on Tuesday to wrap up several policy disputes over a $1.1 trillion spending bill as a midnight Thursday deadline to avert a U.S. government shutdown drew closer. Senator Richard Shelby, the top Republican on the Senate Appropriations Committee, said it was possible passage of the measure could stretch to the...

  • WASHINGTON, Nov 5- Staffers at the National Association of Manufacturers traded high-fives inside the group's election war room Tuesday night, as pro-business lobbying groups enthusiastically greeted Republicans' victory in retaking control of the Senate. Resurgent Republicans, who solidified their House of Representative majority as well as seizing...

  • Sen. Shelby: 'We're Committing Financial Suicide'   Thursday, 3 Jan 2013 | 8:03 AM ET
    Sen. Shelby: 'We're Committing Financial Suicide'

    Sen. Richard Shelby, (R-AL), explains why he voted against the "fiscal cliff" bill, and weighs in on the need to "reform entitlement" programs.

  • WASHINGTON, Oct 5- Senators from the U.S. Gulf Coast urged President Barack Obama on Friday to ensure that any legal settlement for the 2010 Gulf of Mexico oil spill does not undermine a recently passed law that would funnel billions of dollars worth of fines to their states.

  • WASHINGTON, Oct 5- Senators from the U.S. Gulf Coast urged President Barack Obama on Friday to ensure that any legal settlement for the 2010 Gulf of Mexico oil spill does not undermine a recently passed law that would funnel billions of dollars worth of fines to their states.

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    The White House is struggling to fill key financial posts in the administration as a combination of Senate opposition and candidates’ reluctance to join up leaves critical positions empty. The FT reports.