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July 07, 2014 AT 7:21 AM
The U.S. House Financial Services Committee has set a hearing for legislation to reform the Federal Reserve. The hearing, announced by Committee Chairman Jeb Hensarling, a Republican from Texas, is set for Thursday. Spokesmen for the committee were not immediately available to provide more detail about the hearing. The House has proposed several bills aimed at closer scrutiny of the Fed, the U.S. central bank.