Fed watchers say the administration can't count on getting the results it wants by changing voting power on the Federal Open Market Committee.

Treasury Secretary Nicholas Brady recently called for congressional hearings on a bill that would strip the presidents of the 12 regional Federal Reserve banks of committee votes. Only the seven Federal Reserve Board governors would then vote on monetary policy.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.