Political Quotes

“I come to the floor today to offer my strong support for the legislation we are debating today that would finally audit the Federal Reserve. Since I came to Congress, I have supported auditing the Fed. When I was first elected to the House of Representatives, I would attend briefings hosted by Congressman Ron Paul, Senator Paul's father, and I learned why more accountability and transparency was needed at the Fed. I remember talking to Congressman Paul on the House floor about various issues at the Fed, and that is when I started to support this bill to audit the Fed, just as I am supporting his son's bill today. I thank Senator Paul for continuing to take up this cause and for building the momentum to audit the Fed that has led us to where we are today. Since its founding, the Federal Reserve has often operated in secrecy, even though it is the biggest influence on our country's economy. The Fed's actions affect every American family and their hard- earned income. I am fortunate to be chairman of the Economic Policy Subcommittee on the Senate banking committee, where I have direct oversight over the Federal Reserve's monetary policies. I can say that the Federal Reserve's actions warrant passage of this legislation. For several years we have seen unprecedented monetary and regulatory policies come from the Fed. One of the riskiest policies I have ever seen is the Fed's stimulus program of quantitative easing.…”