On behalf of FreedomWorks’ activist community, I urge you to contact your senators and urge them to cosponsor the Federal Reserve Transparency Act, S. 573. Introduced by Sen. Rand Paul (R-Ky.), the Federal Reserve Transparency Act would require a full audit of the Federal Reserve by the Government Accountability Office.

On behalf of FreedomWorks’ activist community, I urge you to contact your representative and urge them to cosponsor the Federal Reserve Transparency Act, H.R. 24, if he or she hasn’t already done so. Introduced by Rep. Thomas Massie (R-Ky.), the Federal Reserve Transparency Act would require a full audit of the Federal Reserve by the Government Accountability Office.

On behalf of FreedomWorks’ activist community, I urge you to contact your representative and ask him or her to cosponsor the Federal Reserve Sunshine Act, H.R. 8007, introduced by Reps. Mark Green (R-T.N.) and Tulsi Gabbard (D-Hawaii). This bill would simply eliminate the provision of the recently-passed Coronavirus Aid, Relief, and Economic Security (CARES) Act that allows the Federal Reserve to hold closed-door meetings about its newly-created $450 billion bailout fund, which is more vital now than ever as we continue to observe the alarming lack of transparency that has come along with the Federal Reserve’s new authorities.

As we attempt to recover from the economic devastation wrought by the pandemic and the government’s authoritarian response to it, restoring a sound monetary policy may not be near the top of lawmakers’ priorities -- but it should be. With record rates of deficit spending and a record-shattering Federal Reserve balance sheet, it should be no surprise that the dollar’s value is at an all time low when compared to the value of gold. None of this is setting the stage for a rapid recovery, or for robust growth thereafter.

It is no secret that limited-government proponents dislike the Federal Reserve, or “the Fed,” and the influence that this central bank wields. It attempts to “play God” in our economy by its control over monetary policy and almost always does far more harm than good. What could not be more secretive currently, though, is the way that the Fed operates. Fortunately, there is significant support in Congress for a bill -- the Federal Reserve Transparency Act -- that would require a Government Accountability Office (GAO) audit of the Fed.