After a committee vote and hearings in the US Senate on the nomination of Janet Yellen to the chair of the Federal Reserve system, many in the United States wait to see if the institution she plans to lead will face any serious scrutiny.
Subject to secrecy and opaque practices, the Federal Reserve is officially charged with setting monetary policy for the United States, but much of its activity is shrouded in mystery. Yet, despite some bipartisan support, there has been little movement toward an audit from the halls of Congress.