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As pretty much everyone expected, President Obama’s nomination for Federal Reserve chairman is a big-government Keynesian. Many left-wing pundits are applauding the nomination of Janet Yellen, the current Vice Chair of the Board of Governors of the Federal Reserve System. She has held many prominent jobs within the Federal Reserve and politics.
Sen. Rand Paul’s campaign to get a vote to audit the Federal Reserve as a condition for considering the nomination of Janet Yellen for Federal Reserve chair is gaining support from one Congressman. Rep. Kerry Bentivolio (R-MI) has written a letter in support of Paul’s Federal Reserve Transparency Act, S. 209.
Sen. Rand Paul is leading an effort to get a vote on auditing the Federal Reserve as a condition for considering the nomination of Janet Yellen for Federal Reserve chair. Sen. Ted Cruz has released a statement supporting this strategy to finally get a vote on auditing the Fed:
We have been living in the Bernanke Era since 2006, a period at the Federal Reserve where Quantitative Easing, or QE, became the tool of choice for propping up Wall Street. Ben Bernanke is retiring soon, and after a rather messy nomination process by the White House that saw Larry Summers surface then sink in a matter of a couple weeks, we now have learned that Janet Yellen is the President's choice to follow Bernanke as Chairman of the Federal Reserve.
Ben Bernanke is arguable the most well equipped Fed chairman America has ever seen, and I mean that sincerely! His academic accomplishments are top notch; and his career as a public official is equally impressive. He has been a ranking member of some of the most influential and prestigious economics advisory councils and research groups in the nation. By all accounts, Ben is the best conceivable man for the job of Chief Central Banker!
Senator Rand Paul has reintroduced legislation to audit the Federal Reserve in the Senate. The bill, S. 209, currently has 24 cosponsors. This legislation is important because the people deserve to know who the Federal Reserve is bailing out behind closed doors. Here are the Republicans that have not cosponsored the audit the Fed bill yet. Please call them or tweet at them and politely ask them to cosponsor S. 209!
This past Saturday, September 22, marked the fourth annual End the Fed day. At Federal Reserve branches across the country, liberty activists showed up to call attention to the corruption and immorality of the Federal Reserve System.
We wrote up a “QE3 Fact Sheet” after Ben Bernanke’s announcement on monetary policy Thursday. Left-wing apologists for the central bank came out in full swing, advocating for the money injection as a beacon of hope.
Senator Rand Paul (R-KY) has introduced the Federal Reserve Transparency Act (S.202)—commonly called the Audit the Fed bill—in the Senate.
As of today (9/20), the bill has 34 cosponsors.UPDATE: 37 COSPONSORS AS OF 11/14.Find out if your senators are cosponsors here.
Chairman Ben Bernanke made two announcements Thursday about monetary policy: (1) the Federal Reserve will begin its third round of quantitative easing, and (2) it will maintain extremely low interest rates of 0 to 1/4 percent until at least mid-2015. These banking actions may sound like gobbledygook, but their effects on our country’s currency are drastically serious. Let’s translate a few things into layman’s terms. “QE3” — what’s this mean?
FreedomWorks Foundation, American Legislative Exchange Council, Tea Party Patriots and Committee to Unleash Prosperity in partnership with a coalition of conservative organizations and prominent individuals, launched the Save Our Country Task Force.