Congressman Rand Paul reintroduced the Federal Reserve Transparency Act, also known as the “Audit the Fed” Bill, as a standalone piece of regulation into the U.S. Senate. The bill seeks to take the lid off what Paul considers to be the “entirely unknown inner 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 he was reintroducing the Federal Reserve Transparency Act, also known as the “Audit the Fed” bill, into the U.S. Senate. The regulation aims to bring transparency and oversight to the inner workings of the U.S. Federal Reserve, which Paul criticizes as obscure and almost entirely unknown.
In its current form, the bill would repeal the current statutory protections preventing the organization of a full audit of the Board of the Fed and its banks, ordering the U.S. Government Accountability Office (GAO) to scrutinize the Fed’s actions, tr
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