Warren urges Federal Reserve Governor Waller to halt advancing the Federal Reserve Bank reform proposal

```htmlGolden Ten Data reported on July 2 that U.S. Democratic Senator Warren has called on Federal Reserve Board member Waller to halt his comprehensive reform efforts regarding the operations of the Federal Reserve's 12 regional branches. Warren stated that Waller's proposed Federal Reserve Bank reform plan appears to be inconsistent with federal law and suggested that the proposal could undermine the independence of the Federal Reserve. Although Waller, as Chair of the Federal Reserve Board's Reserve Bank Affairs Committee, holds a certain degree of oversight authority, the regional branches are established as highly autonomous entities that can independently manage their daily operations. Warren said, "Rather than being a serious proposal for Federal Reserve reform, this seems more like a carefully designed plan to please President Trump, who wants more power over the regional branch presidents. I urge you to immediately stop advancing this proposal and provide Congress with more information."```