Senator Rand Paul (R-KY) has been leading the charge in the US Senate to garner support for a full audit of the Federal Reserve. In fact, Paul has threatened to filibuster the Senate confirmation of Federal Reserve Chairman nominee Janet Yellen unless he gets a vote on his bill to audit the Federal Reserve.
Yellen says no way to a Federal Reserve audit.
Paul and Senator Ted Cruz (R-TX) have latched arms on many occasion, and the two are now teaming up for a strong push to audit the Federal Reserve. Cruz took to his Senate Facebook page to make the announcement. Typical of the new blood in the US Senate, he used a hashtag. #AuditTheFed, Cruz wrote while announcing his teaming up with Paul.
According to the Houston Chronicle, Cruz is on board. “I agree with Rand Paul,” wrote Cruz in a statement Wednesday. “We need to bring transparency to the Fed, so the American people can understand the scope and consequences of its policies.”
The legislation would not only allow for a full audit of the Federal Reserve, but also fully eliminate the current restrictions on auditing the private bank. The Federal Reserve Transparency Act of 2013 currently has 27 co-sponsors in the US Senate. These sponsors include Senate Minority Leader Mitch McConnell (R-KY) & Senator Marc Begich (D-Alaska).
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