The US congress is working on a revolutionary amendment to the US regulations which would effectively cut the power of US FED in making the decision on interest rate changes. The politicians have always been against the upward changes in the interest rates being done by US FED and have been seeking to gain control over it.
Now the Obama administration seems to be working on legalizing this through this legislation. If it comes through, then there could more economic upheavals in US in the near future.
US congress wants to cut FED to size