Recovery law allows Fed to rope off public as it spends billions
(From Politico)
Tucked into the recent recovery bill was a provision granting the Federal Reserve the right to set up a $450 billion bailout plan without following key provisions of the federal open meetings law, including announcing its meetings or keeping most records about them, according to a POLITICO review of the legislation….
…The changes at the central bank – which appear to have been inserted into the 880-page bill by sympathetic senators during the scramble to get it approved — would address a complaint that the Fed faced during the 2008 financial crisis, when board members couldn’t easily hold group conversations to address the fast-moving economic turmoil.
Reprinted from: https://www.ac2news.com/2020/04/recovery-law-allows-fed-to-rope-off-public-as-it-spends-billions/
