On the recordJuly 24, 2012
I thank the gentleman. Let me say, first, that this bill is not about sunshine and it's not about transparency. It is about dissatisfaction that some individuals have with the mandate that Congress has given to the Federal Reserve. The gentleman who just spoke is absolutely right; They are supposed to deal with inflation. That's what we told them to do in their mandate. They're supposed to deal with unemployment. That's what we told them to do in the mandate we gave. And some people over there are dissatisfied with the fact that--they don't want them to deal with unemployment. They don't want them to try to adjust and make changes that will be beneficial to our economy. And if they don't want that, they ought to just introduce a bill that repeals the mandate that we gave to them. Don't come and say that we are talking about sunshine and transparency. Every time I turn on the television now, I hear the Federal Reserve, Chairman Bernanke and members of the Federal Reserve, talking about how the economy is going. That is not lack of sunshine and lack of information. I thought we had dealt with this when Mr. Paul was the ranking member of the subcommittee and I was the chairman. Mr. Paul's problem is he doesn't like the Federal Reserve. He is avowedly in favor of doing away with the Federal Reserve. That's an honest position. But don't come in and try to cloak it in the guise of this agency is not transparent or it lacks sunshine.…
