Congressman Mark Amodei (NV-2) today voted in favor of H.R.459, the Federal Reserve Transparency Act. The legislation, of which Amodei is a cosponsor, would direct the comptroller general to complete an audit of the board of governors of the Federal Reserve system and of the Federal Reserve banks, followed by a detailed report to Congress. The bill passed the House 326 to 99.
"The Fed's monetary policy has far-reaching consequences for the American people, affecting everything from employment to consumer prices to interest rates. Some oversight and accountability are more than warranted," said Amodei. "It makes you wonder, who would oppose such transparency? This is an issue where my colleague from Texas, Rep. Ron Paul, has been right and I'm proud to support his effort."