We need to End the Fed not audit it. But I’ll take an audit as a first step. If audited the real question is the length to which the Fed will go to obfuscate. My bet is pretty far.
The Fed is the Prime Mover of crony capitalism.
On Tuesday, U.S. Senator Rand Paul reintroduced his Federal Reserve Transparency Act, widely known as the “Audit the Fed” bill, to prevent the Federal Reserve from concealing vital information on its operations from Congress. Eight cosponsors joined Senator Paul on the legislation.
Representative Thomas Massie (KY-4) has introduced companion legislation, H.R. 24, in the U.S. House.
“No institution holds more power over the future of the American economy and the value of our savings than the Federal Reserve,” said Sen. Paul, “yet Fed Chair Yellen refuses to be fully accountable to the people’s representatives.”