“The Fed is a creature of statute, and Congress has both the authority to audit it and the responsibility to oversee it. A fiscal audit of the Fed is not in itself objectionable — the problem is having Congress insert itself into the Fed’s internal monetary-policy deliberations, which are for very good reason insulated from the political process.”
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A laughable quote from this piece on Ron Paul’s “Audit the Fed” bill.
This guy really thinks we’re going to believe that the Fed’s actions over the last century have been apolitical? Nothing about the Fed is “insulated” from the political process. It is literally printing money and bailing out corporations and banks that have political connections. Come back to reality.
