Rep. Thomas Massie (R-Ky.) recently reintroduced his “Federal Reserve Transparency Act,” which he says was inspired by Ron Paul’s famous “Audit the Fed” measure from 1983. Paul, a former congressman and presidential candidate, created a movement decades ago that pushed for increased oversight of the Fed’s monetary policy decisions.
Massie’s bill is a revised iteration of Paul’s 1983 draft and aims to bring more transparency to one of the country’s largest financial regulators, which employs nearly 23,000 people.
“The bill does a complete audit of the Fed, not the perfunctory audit they do now,” the congressman said in an interview with The Epoch Times. “I don’t feel like we’ve provided adequate oversight over the Federal Reserve.”…