Sean Duffy: “I appreciate the chairman yielding. I want to thank Chairman Huizenga for his good work on the FORM Act. I think this is…”

“I appreciate the chairman yielding. I want to thank Chairman Huizenga for his good work on the FORM Act. I think this is a commonsense set of reforms that make the Federal Reserve more accountable to the American people, which means they are more accountable to the United States Congress. I would ask my colleagues across the aisle and my good friend from Wisconsin (Ms. Moore), who says that the FORM Act is one that would provide for the Congress to set monetary policy, where in the FORM Act does it say that? Just because we ask for oversight, just because we want to have the Federal Reserve accountable to the Congress and to the American people, doesn't mean that Congress is taking the role of setting monetary policy. Again, that is just setting up a straw man and trying to knock it down in the argument. This is important stuff. There is a distinct difference between the two sides of the aisle. We do think there should be accountability and transparency. But my friends across the aisle will continue to advocate for very powerful government institutions empowering bureaucrats that are not elected and that are not accountable to the American people to make decisions that have huge impacts on the American people. What we say on our side of the aisle is, in our form of government, the people have a right to have a say in their government, which means you need to empower the Congress and the Senate to have oversight over these very powerful organizations.…”