Federal Reserve fires back at Rand Paul

Section:

By Kevin Cirilli
The Hill, Washington
Thursday, February 5, 2015

The Federal Reserve is lashing out at Sen. Rand Paul's plan to give Congress more oversight over the central bank, a proposal that could gain traction in the new Republican-led Congress.

The Kentucky Republican reintroduced his "Audit the Fed" legislation last month with 30 co-sponsors, including other potential 2016 Republican presidential hopefuls, Sens. Ted Cruz of Texas and Marco Rubio of Florida.

The proposal -- once championed by his father, former Rep. Ron Paul, R-Texas -- would subject the central bank to an audit by the Government Accountability Office. Regional bank presidents from around the country are decrying the plan, which they argue could damage the economy. ...

... For the remainder of the report:

http://thehill.com/policy/finance/231822-fed-fires-back



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