Political Quotes

“for years I have supported a responsible audit of the Federal Reserve System. The American people deserve an audit of one of the most vital parts of our government. In the wake of the financial crisis that crippled our Nation's economy, I came to more fully understand how important it is that any audit respects the independence of the Federal Reserve. The Federal Reserve is crucial to our economy recovering after the disastrous debacle on Wall Street. There were emergency provisions to address the catastrophes that only the Federal Reserve could respond to. They did it faster than the Congress could do it. Had the Federal Reserve not stepped in, the consequences of the great recession would have been tremendously worse. It would have been worse than the Great Depression. This Federal Reserve could act quickly to safeguard the national economy because of its independence, and it did just that. One of the lessons we learned from the great recession is that the Federal Reserve should not be hamstrung. It is a cornerstone of our global economy. We must maintain a Federal Reserve that is transparent, but we must also respect the independence of the Federal Reserve in order to maintain the well-being of the global economy, and that is why we included an amendment to responsibly audit the Federal Reserve while respecting its independence. The amendment passed unanimously.…”