The Daily Caller says: Put the Federal Reserve on a budget -Submitted by bobbyw24 on Wed, 02/09/2011 - 09:29
The Federal Reserve, which has the power to print money, also sets its own operating budget. That’s the wrong kind of independence. Unfortunately, recent proposals to audit the Fed do not address this issue.
Putting the Federal Reserve on a Congressional budget would bring much-needed accountability and fairness, instill a culture of efficiency, and increase effectiveness. An annual Congressional appropriation process would do more to bring long-term accountability to the Fed than the popular audit proposal.