Congressman Rand Paul Reintroduces ‘Audit the Fed’ Bill

Congressman Rand Paul reintroduced the Federal Reserve Transparency Act, besides known arsenic the “Audit the Fed” Bill, arsenic a standalone portion of regularisation into the U.S. Senate. The measure seeks to instrumentality the lid disconnected what Paul considers to beryllium the “entirely chartless interior workings” of the U.S. Federal Reserve and its operations.

Senator Rand Paul Announces Reintroduction of Federal Reserve Transparency Act

U.S. Senator Rand Paul from Kentucky announced helium was reintroducing the Federal Reserve Transparency Act, besides known arsenic the “Audit the Fed” bill, into the U.S. Senate. The regularisation aims to bring transparency and oversight to the interior workings of the U.S. Federal Reserve, which Paul criticizes arsenic obscure and astir wholly unknown.

In its existent form, the measure would repeal the existent statutory protections preventing the enactment of a afloat audit of the Board of the Fed and its banks, ordering the U.S. Government Accountability Office (GAO) to scrutinize the Fed’s actions, transactions, and decisions and study to Congress astir the findings.

Paul states that the actions of the Federal Reserve person affected countless lives, arsenic the instauration rallied to people billions of dollars during the COVID pandemic, providing wealth to manufacture favorites nether the guise of “stimulus” packages.

Paul explains that the existent inflationary problems, which helium attributes to the Fed’s actions, person affected the capabilities of Americans to bargain food, turning “basic needs into unattainable luxuries.” He stressed:

The Fed’s persistent rhythm of wealth printing and lending without immoderate signifier of meaningful oversight whitethorn beryllium the origin of galore of our economical hardships, specified arsenic the conflict of galore Americans to spend food.

The act, reintroduced connected January 11, has the enactment of Senators Todd Young, Mike Lee, Ted Cruz, Mike Braun, Chuck Grassley, Roger Marshall, John Barrasso, and Marsha Blackburn and is co-sponsored by Senator Jim Risch.

Paul’s measure is the past effort successful a agelong enactment of efforts to effort to bring transparency and accountability to the Federal Reserve, with his father, Ron Paul, besides being 1 of the biggest supporters of this benignant of action.

What bash you deliberation astir the Federal Reserve Accountability Act? Tell america successful the comments conception below.