WASHINGTON — A leading Republican on the House Financial Services Committee Thursday offered a sharp rebuke of recent Federal Reserve Board moves, calling for the central bank to lose its authority to supervise banks and have its emergency lending powers further curtailed.

On the same day Fed Chairman Ben Bernanke was expected to announce new central bank steps to boost the economy, Rep. Scott Garrett said in a speech to American Banker's Regulatory Symposium that a "growing number of my colleagues, on both sides of the aisle, are very concerned with the radical and unprecedented actions taken by the Fed."

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