Political Quotes

“I thank the chairman and I thank the gentleman from Michigan (Mr. Huizenga) for all of their hard work to bring greater transparency to one of the most secretive agencies in the government, the Federal Reserve. Mr. Chairman, earlier this year, Fed Chair Janet Yellen said: ``The Federal Reserve is already one of the most transparent central banks around the globe.'' Really? If that were the case, why is it we have seen the following headlines in the last few years: March of last year, Forbes, ``Fed on Target to Raise Interest Rates in Spring of 2015''; then in October, ``Two Fed Officials Say Interest Rates to Rise in Mid-2015''; then in The Wall Street Journal just last month, ``Fed Doubts Grow on 2015 Rate Hike''; and then just 2 weeks later in The Wall Street Journal, ``Fed Keeps December Rate Hike in Play.'' So which is it? Mr. Chairman, a simple Google search on the subject pulls up a range of headlines on this topic all pointing to one fact: There is a great deal of confusion and uncertainty as to how the Federal Reserve actually conducts its own monetary policy. So the bottom line is the Fed needs to follow a rule when conducting monetary policy, and this bill, H.R. 3189, gives the Fed that flexibility to develop and implement its own rule as it sees fit and then simply to report to Congress and the public, should it find the need to deviate from it. {time} 1800 And this will then do what?…”