WASHINGTON, D.C. – Today, Congressman Thomas Massie introduced H.R. 24, the Federal Reserve Transparency Act of 2015, also known as “Audit the Fed.” The bipartisan bill would require the Comptroller General to conduct a full examination of the Board of Governors of the Federal Reserve System and the Federal Reserve banks.
“The American public deserves more insight into the practices of the Federal Reserve,” Massie said. “Behind closed doors, the Fed crafts monetary policy that will continue to devalue our currency, slow economic growth, and make life harder for the poor and middle class.”
Former Representative Ron Paul (R-TX), who has long championed this cause, originally introduced the bill in 2009.
Massie concluded, “It is time to force the Federal Reserve to operate by the same standards of transparency and accountability to the taxpayers that we should demand of all government agencies.”
The Federal Reserve Transparency Act of 2015 was introduced with 64 bipartisan original co-sponsors. An identical bill introduced by former Rep. Paul Broun (R-GA) in the 113th Congress overwhelmingly passed the House of Representatives, 333-92.