Rand Paul: Why I Plan to Grill YellenSubmitted by bobbyw24 on Fri, 10/11/2013 - 16:32
The Federal Reserve needs to be audited so that the public can better know what the institution is doing with the U.S. money supply, the Senator writes
By Sen. Rand Paul @SenRandPaul | Oct. 11, 2013 | Time
President Obama’s announcement of Janet Yellen as his choice as the new Federal Reserve chairman has prompted speculation about what this might mean for our central bank. Perhaps this can best be judged by reviewing its recent history and Yellen’s place in it.
It is also important to focus on the fact that the Federal Reserve is structurally flawed. The institution needs to be reformed to prevent Yellen, or any other future nominee, from using the enormous power of the Fed to aid and abet the allies of big government. I intend on using the Senate’s constitutional power of consent to nominations as a means to educate the American people on the structural flaws and policies of the Fed that are bankrupting our nation.