Ron Paul’s Audit the Fed Bill Passes the Housr

Great news! Good way to cap off the day!

Ron Paul Legacy Lives on as House Passes Fed Audit Bill

The House has approved a bill that would open the Federal Reserve’s activities, including its deliberations on interest rate policy, to increased congressional scrutiny.

The legislation would direct the Government Accountability Office to conduct a “full audit” of the Fed’s operations and report back to Congress. Currently, the GAO reviews the central bank’s financial operations, but not its policy decisions or agreements with foreign governments and central banks. An outside firm audits the Fed’s financial operations and its findings are published in the central bank’s annual report.

Known to some on Capitol Hill as the “Audit the Fed” bill, it passed the Republican-controlled House Wednesday on a 333-92 vote, with support from 106 Democrats. However it would likely face more opposition in the Senate, which is controlled by Democrats.

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