Republican US senator presses Fed officials on bond-buying policies

U.S. Senator Rick Scott, a fierce critic of the Federal Reserve's bond-buying program, has sent a new letter to central bank Chair Jerome Powell complaining about what the Florida Republican sees as slow progress in shedding assets from its balance sheet. Scott's letter to Powell, sent Monday, followed a barrage of letters he sent recently to the newest Fed board members – Fed Vice Chair Philip Jefferson and governors Lisa Cook and Adriana Kugler – seeking their positions on the Fed's ongoing balance sheet reduction program.