Fed audit amendment deal struck in senate

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Sen. Chris Dodd (D-Conn.) will cosponsor Sen. Bernie Sanders' (I-Vt.) amendment to audit the Fed, he said on the Senate floor Thursday afternoon, though with modifications, the details of which are crucial to the weight of the audit.

Sanders had been negotiating a compromise with the Federal Reserve to come to an agreement on how broadly the audit powers would extend, Sen. Bob Corker (R-Tenn.) told reporters.

Corker said he had spoken with Sanders and that the Fed wants to “make sure that the audit is not looking at the open market policy, where you're not looking at how interest rates are set.” The White House expressed similar concerns earlier Thursday.

Full story: Fed Audit Amendment Deal Struck In Senate