Political Quotes

“I rise to support Senator Scott's bill that would increase oversight of the Federal Reserve. I believe in Fed independence so the Fed can do its work setting interest rates and maximizing employment, but independence does not mean insulation from following the rules--especially ethics rules. For years, the Fed has rebuffed congressional oversight, and for years, Fed officials have been caught up in ethics scandals without any accountability. Unlike virtually every other major Federal Agency, the Fed hires and fires and sets the salary for its own inspector general. That means that in 2021, when high-level Fed officials were embroiled in a scandal involving financial trades they made during the COVID pandemic, the Fed's own in-house IG conducted the only investigation and said, essentially: Nothing to see here. Maybe that is right, but the Fed's watchdog should be truly independent and able to call out abuses.”