Renewing his attacks on the Federal Reserve System, Rep. Henry B. Gonzalez introduced a bill Thursday that would make reserve bank presidents subject to Senate confirmation.

Under Rep. Gonzalez's Federal Reserve System Audit and Accounting Act, the General Accounting Office would audit the vault of each reserve bank at least once every three years. The bill would also eliminate the Fed chairman's authority to fire the inspector general.

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.