Sean Duffy: “We had to go to extreme measures to get the Federal Reserve to comply with our subpoenas to provide us the documents…”

“We had to go to extreme measures to get the Federal Reserve to comply with our subpoenas to provide us the documents that this institution is entitled to. That shows how arrogant this institution--the Fed--really is. A rules-based approach makes sense. An audit of the Fed taking a look back that is not political, but a retrospective look at the Fed's monetary policy, makes absolute sense. And to think that we are going to talk about the blackout period at the Fed that, yes, you can have a blackout for monetary policy, but you can't use that blackout when we are talking about the supervisory and prudential functions of the Federal Reserve.”