Reuters: Regulatory News: US House passes Fed audit bill; measure seen dying in Senate

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US House passes Fed audit bill; measure seen dying in Senate Jul 25th 2012, 19:04 WASHINGTON, July 25 | Wed Jul 25, 2012 3:04pm EDT WASHINGTON, July 25 (Reuters) - The U.S. House of Representatives on Wednesday o verwhelmingly approved legislation to subject Federal Reserve monetary policy to audit scrutiny, a measure that is expected to die in the Democrat-controlled Senate. The legislation written by Republican representative Ron Paul, who rode his long crusade against the Fed to a presidential bid and grass-roots folk-hero status, passed the House by a 327-98 vote, exceeding a required two thirds majority. Some 89 Democrats joined 238 Republicans in approving it.

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