Kentucky Republican Sen. Rand Paul, continuing a campaign launched by his father, Texas Rep. Ron Paul decades ago, is promising to hold up Obama administration nominees to the Federal Reserve unless a program to audit the massive money machine moves forward.
“As the Senate debates the Federal Reserve Board nominees, there is no more appropriate time to provide Congress with additional oversight and scrutiny of the actions and decisions of the central banks. Therefore, I request that my bipartisan legislation, S. 209, the Federal Reserve Transparency Act, be scheduled for an up or down vote concurrently with nominees to the Federal Reserve Board of Governors,” Paul wrote.
“My bill calls to eliminate all restrictions placed on Government Accountability Office (GAO) audits of the Federal Reserve. The Fed’s credit facilities, securities purchases, and quantitative easing activities would also be...
