Fed to reject Geithner’s review request: report
September 22nd, 2009
The U.S. Federal Reserve Board has rejected Treasury Secretary Timothy Geithner’s request for a public review of its structure and governance, Bloomberg said, citing three people familiar with the matter.
Senior officials at the central bank perceived a potential threat to its independence after the Treasury released its proposal, according to the news agency.
The agency also said that while the report requested by Secretary Geithner and his department has not yet been scrapped, no work has been done on the project, which is due Oct 1 free insurance quotes.
No comment was immediately available from the Federal Reserve Board.
(Reporting by Biswarup Gooptu in Bangalore; Editing by Ruth Pitchford)
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