Money is the basis of every transaction we make, and is therefore one of the most crucial elements in maintaining a strong economy. It is therefore vital that we preserve sound money that is not subject to sudden fluctuations in value. That’s why we support the freedom of Americans to use anything they like as money, and the power of free markets to set interest rates instead of the central authority of the Federal Reserve.
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Following the reintroduction of the Federal Reserve Transparency Act by Senator Rand Paul (R-KY) in the Senate using a procedural move to bypass committee, FreedomWorks Legislative Affairs Manager Josh Withrow commented:
Bubble, bubble, toil and trouble. That might as well be the new theme for the American economy. Washington, the White House, Congress, housing agencies, and the Fed, none of them have learned from the housing bubble of 2007-08.
My 13-year-old son told me at the dinner table the other day that Franklin Roosevelt was one of America’s “greatest presidents” because “he ended the Great Depression.” He’s usually a good student, so I checked where he got this tripe and sure enough the fairy tale was right there in his American history book.
The business world is all abuzz with rumors and guesses about what the Federal Reserve may or may not do in the next couple of months. The Fed has given indications that it plans to raise interest rates in the near future, but after markets experienced significant turbulence, many investors are now betting that the Bank will hold off and keep interest rates low through the end of the year.
On June 11th, the US House of Representatives Oversight and Government Reform Subcommittee on Health Care, Benefits, & Administrative Rules held a hearing on the fraud, waste, and abuse within the Ex-Im Bank. The witness was Acting Inspector General for the Ex-Im Bank, Michael McCarthy, who left me uneasy and disappointed leaving the hearing.
Senator Bob Corker (R-Tenn.) could be one of the biggest obstacles to passing audit the Fed in the Senate. As a member of the Senate Committee on Banking, Housing, and Urban Affairs, Senator Corker has been an outspoken opponent of the Federal Reserve Transparency Act.
As one of our more than 6.9 million FreedomWorks members nationwide, I urge you to contact your senators today and ask them to support S.264, the Federal Reserve Transparency Act of 2015. Introduced by Sen. Rand Paul (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.
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.
Sen. Elizabeth Warren (D-MA) has become the populist darling of the far-left by successfully portraying herself to be a vocal opponent of Wall Street and big financial institutions, as well as a hardcore supporter of onerous financial regulations, the costs of which are passed on to American consumers. Her anti-cronyism image, though, isn't all it's cracked up to be.
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.
