Rothfus Votes for Fed Transparency Legislation

Press Release

Today, the House passed the Fed Oversight Reform and Modernization Act (H.R. 3189). The bill would require the Federal Reserve to better communicate to the public its monetary policy decisions, specifically how it sets interests rates and the country's money supply. It would also require the Government Accountability Office (GAO) to conduct an audit of the Fed and require cost-benefit analysis when the Fed promulgates regulations.

Congressman Keith Rothfus [PA-12] issued the following statement: "For the last six years, Americans have witnessed the Federal Reserve embark on ad hoc monetary policy to an unprecedented degree," said Congressman Rothfus. "This has resulted in a massive expansion of the Fed's balance sheet and enormous influence over the economy. Under these circumstances, the American people deserve more transparency from the Federal Reserve regarding its decision-making."

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