Ahead of Subcommittee Hearing, Senators Warren, Scott Criticize Failures of Fed IG, Introduce Bipartisan Legislation to Eliminate Conflicts of Interest and Promote Accountability at the Fed

Press Release

Date: May 17, 2023
Location: Washington, DC

"Both the tone and content of your letter were disturbing: you provided a misleading series of arguments and misrepresented your own success as Inspector General in what ultimately appeared to be a self-preservation effort to retain your current position and your salary of over $350,000 annually. Your letter failed to make an effective case against our legislation and was not a wise use of taxpayer dollars.


The falsehoods and failures highlighted in your letter make it clear that, at present, the Office of the Inspector General of the Federal Reserve does not have the full suite of tools needed to be a neutral and effective agency watchdog. Our legislation represents an opportunity to restore independence and authority to the IG's office"