On April 13, 2012, the US Department of the Treasury released new cost estimates for the Troubled Asset Relief Program. Looking principally at actual and projected contractual cash flows, the document concludes that: "Overall, the government is now expected to at least break even on its financial stability programs and may realize a positive return." 

At this event, Representative Kevin Brady (R-TX) will discuss new legislation aimed at increasing the accountability of the Federal Reserve while strengthening its independence from political pressure.

Does Congress need IPAB?

For decades, investors have spent countless hours speculating about the Federal Reserve's agenda on interest rates. Market watchers study every adjective in often-cryptic Fed statements for clues about the outlook for monetary policy.

An audit of the Federal Open Market Committee's deliberations is unnecessary and unproductive.

The Federal Open Market Committee's next meeting will not bring meaningful changes in the Federal Reserve's interest rate policy.

Longstanding policies that were intended to promote confidence in the independence of regulatory decision-making have now been wiped away by the Dodd-Frank act, which has in effect placed all the financial regulators under the direction of the Treasury secretary.

The Federal Reserve's Vincent Reinhart will join AEI later this year.