Congressman Kevin McCarthy (CA-22) released the following statement regarding House passage of the Federal Reserve Transparency Act (H.R. 459):
"Congress gave the Federal Reserve independence to establish monetary policy. However, I believe Congress and the American people deserve transparency and accountability from the Federal Reserve, especially since it has the ability to expose taxpayers to trillions of dollars of liability. I am pleased that the Federal Reserve Transparency Act, a bill that I cosponsored, passed the House this afternoon with overwhelming bipartisan support, and I ask for Senate consideration of this bill."