A U.S. Senate subcommittee hearing is set for Nov. 21 to investigate whether the Fed's relationship with the banks it regulates is too cozy, following the release of secretly recorded conversations between the Federal Reserve Bank of New York and Goldman Sachs officials. New York Fed President William Dudley, one of the most powerful U.S. central bankers, is set to testify before the subcommittee on Financial Institutions and Consumer Protection, according to a Senate aide.
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