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Bills to limit Fed's policy freedom 'deeply concerning': Harker

PHILADELPHIA (Reuters) - Proposed congressional bills that would limit the Federal Reserve's ability to independently decide policy are deeply concerning though the Fed, in order to be more transparent, can "communicate better" what motivates such decisions, a Fed official said on Tuesday.

"I am deeply concerned" about efforts in the Senate and House to increase lawmakers' oversight and control over monetary policy decisions, Philadelphia Fed President Patrick Harker said at the Wharton School of the University of Pennsylvania. Such efforts are expected to re-emerge under U.S. President Donald Trump and the Republican-controlled Congress.

(Reporting by Jonathan Spicer; Editing by Meredith Mazzilli)