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<p>[QUOTE=&quot;Cloudsweeper99, post: 999109, member: 3011&quot;]<a href="http://www.federalreserve.gov/monetarypolicy/bst_oversight.htm" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.federalreserve.gov/monetarypolicy/bst_oversight.htm" rel="nofollow">http://www.federalreserve.gov/monetarypolicy/bst_oversight.htm</a></p><p><br /></p><p>&quot;The Federal Reserve is subject to oversight by Congress. Board governors and staff testify before Congress frequently to discuss issues within the Federal Reserve&#039;s purview. For example, in 2008, governors and Board staff testified 35 times before Congress. During the first quarter of 2009, governors and staff have testified 12 times. Board staff also meet with Congressional staff to brief them on topics related to the Federal Reserve&#039;s operations and future direction.&quot;</p><p><br /></p><p>&quot;The Government Accountability Office (GAO) has broad authority to review and audit Federal Reserve activities...As of March 31, 2009, there were 20 GAO engagements underway, 17 of which were initiated by Congress. During 2008, the GAO completed 15 similar engagements.&quot;[/QUOTE]</p><p><br /></p>

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