Fed, Republican critics may compromise on oversight after Trump win

New York

REPUBLICAN lawmakers and the Federal Reserve may be ready to strike a compromise deal on legislation that would give Congress greater scrutiny over the central bank, now that there is no longer the threat of a presidential veto, but it would likely stop short of dictating rules on setting interest rates.

Donald Trump's victory in the presidential election will give the Republicans control over both the White House as well as both houses of Congress next month, removing a likely veto on legislation to overhaul governance of the Fed by a Democratic president. Even so, Republicans will need support from Senate Democrats now that their Senate majority has shrunk to a 52-48 split in the November polls.