Senate Democrats come out against Fed audit bill

(Reuters) - Democrats on the Senate Banking committee on Wednesday voiced opposition to a bill that would expose the U.S. Federal Reserve to a full government audit.

The support from Democrats shows they are starting to form a united front against Republican-led efforts to open the Fed's internal discussions of interest rate and other policy matters to the public.

Republicans say the Fed needs greater transparency after it gained too much power during the financial crisis. Fed officials say exposing policy discussions to public scrutiny would increase political pressure on the independent government body.

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