Fed's George Says Proposed Reforms Would Distance Central Bank From Main Street

Kansas City Fed President Esther George will tell Congress Wednesday she is worried that changing the governance structure of the U.S. central bank will make it more distant from Main Street, according to the Wall Street Journal. George will testify with Richmond Fed President Jeffrey Lacker at a House Financial Services subcommittee hearing. In her testimony, obtained by the Journal on Tuesday, George will say that the current structure insulates the Fed from political pressure and allows more diverse perspectives to be heard.

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