Congressman Chuck Fleischmann made the following remarks after voting for H.R. 459, the Federal Reserve Transparency Act.
"Between purchasing toxic assets during the 2008 financial crisis, to the current purchase of trillions of dollars of US debt, it is clear that the Federal Reserve faces significant exposure that could harm our economy. An audit of the Fed is desperately needed to provide transparency to Congress and the American people. With the Federal Reserve pumping over $65 billion into the European economy, it is long past time that we examine the Fed's role in our financial system."
Mr. Fleischmann is also a cosponsor of H.R. 459.