Hill wants reins on Fed Posted on Yahoo news from Politico.com

http://news.yahoo.com/s/politico/20090619/pl_politico/23911

Glenn Thrush, John Bresnahan – Thu Jun 18, 9:25 pm ET

Fed Chairman Ben Bernanke is spending so much time on the Hill these days that he takes his lunch wherever he can, recently plopping down at a tiny desk inside Rep. Barney Frank’s office to sneak a sandwich.

Bernanke can expect to brown-bag it a lot more in the coming months as he faces a rising tide of congressional scrutiny and growing concerns that the once-untouchable Fed is becoming an out-of-control financial Frankenstein with $2.2 trillion in loans on its books.

“The fact is that the American people want to know more of the ‘Secrets of the Temple,’” House Speaker Nancy Pelosi (D-Calif.) told reporters Thursday, referring to the 1989 William Greider book examining the Federal Reserve. “A balance has to be struck as to what is required to run the Fed in a responsible way, about what transparency there should be.”