As one of our more than 6.9 million FreedomWorks members nationwide, I urge you to contact your representative today and ask him or her to support H.R. 24, the Federal Reserve Transparency Act of 2015. Introduced by Rep. Thomas Massie (R-Ky.), the bill would eliminate the current audit restrictions placed on the Government Accountability Office (GAO) and require a full and thorough audit of the Federal Reserve.

Senator Rand Paul (R-Ky.) has reintroduced the Federal Reserve Transparency Act of 2015 (S.264) along with 30 bipartisan cosponsors. Better known as “Audit the Fed”, the bill would require a full and thorough audit of the Federal Reserve.

Rep. Thomas Massie (R-Ky.) didn’t waste any time in introducing a bill to Audit the Fed. Yesterday, the first day of the 114th Congress, Massie introduced H.R. 24, the Federal Reserve Transparency Act of 2015 with 64 bipartisan original cosponsors. The legislation is identical to the Audit the Fed bill that overwhelmingly passed the House of Representatives last year (333-92)—but ultimately Harry Reid refused to bring it to the Senate floor.

Last week, Republicans won control over the Senate in the mid-term elections. I’m personally glad that Harry Reid is no longer Senate Majority Leader but I’m still skeptical on whether Republican leadership will be serious about cutting spending. I hope that they prove me wrong.

As expected, the House overwhelmingly passed legislation (H.R. 24) to audit the Federal Reserve with a vote of 333-92. This goes to show that bringing transparency to the central bank is a bipartisan issue that transcends party lines. FreedomWorks will be scoring this important vote in our congressional scorecard to hold legislators accountable.

Good news!

Federal Reserve Chairman Janet Yellen recently took the opportunity to address the International Monetary Fund on the issue of monetary policy, both from a historical perspective and in order to lay out policy guidelines for the future.

A no-brainer issue that should unite practically everyone is auditing the Federal Reserve. Some may find it hard to believe that the central bank of the United States has never been fully audited. The public and even Congress is left in the dark about what goes on behind closed doors at the Fed. This severe lack of transparency is troubling since the central bank has so much power over the economy and our lives.

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 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: