Rand Paul Supports Auditing the Federal Reserve
The Federal Reserve was created by Congress and is supposed to be overseen by Congress.
But today, the Fed is now in every nook and cranny of the federal banking system and boasts unprecedented regulatory powers.
Yet, Federal Reserve officials tell the American people we have no business looking into what they’ve been doing.
Not long ago, a limited audit showed the Federal Reserve doled out $16 trillion in sweetheart loans to overseas banks and corporations. That’s more than four times what our out-of-control Congress spends every year!
Yet, this was all done in secret.
We cannot allow such breathtaking economic power to remain the hands of a few — all hidden from the American people — if we’re to continue to survive as a free nation.
That’s why I’ve introduced several bills to Audit the Federal Reserve and will continue to fight for transparency and oversight.