Philosophy Of Metrics
H.R. 24 ‘Audit the Fed’ Bill Passes in House
By JC Collins
With all of the other economic and geopolitical events which are taking place this week we can now add the passage of the Audit the Fed bill in Congress. The bill was overwhelmingly passed with a margin of 333 to 92.
Congressman Ron Broun issued the following statement:
“Today’s passage of the Audit the Fed bill brings us one step closer towards bringing much-needed transparency to our nation’s monetary policy. For the past 100 years, the Federal Reserve, a quasi-government agency, has acted under a veil of secrecy – controlling our monetary policy and thus, our economy. While in recent years, the Fed has been granted a greater role in overseeing the regulation of our financial system, current law specifically prohibits audits of the Federal Reserve’s deliberations, decisions, or actions on monetary policy. This lack of accountability and transparency has led to grievous consequences – and it must end.