Senate Considering Consolidating Fed Powers

It looks like the Senate will have its say on the regulatory oversight of the Federal Reserve. Apparently not impressed with by the job of the Fed moving the U.S. out of recession, the Senate is considering lumping regulatory powers into fewer administrative agencies. According to a Washingtonpost.com article, Brady Dennis writes, "Senators on both sides of the aisle have expressed a lack of confidence in the Fed in the wake of the financial crisis, challenging everything from the central bank's transparency to its ability to protect consumers." Once the belle of the ball, now Cinderella can't get a date.