GOP Divided Over Monetary Policy as Fed Chief Pick Looms

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After criticizing the Federal Reserve for the past eight years, Republicans finally have a chance to change the course of the central bank when President Donald Trump nominates someone to take the helm in early 2018. But they are divided over which direction monetary policy should take.

GOP efforts to subject the Fed to more scrutiny and limit its discretion gained traction in the wake of the financial crisis, especially in the House, and Republicans hammered Fed officials over why they continued to keep interest rates so…