Ellmers Demands Accountability of Federal Reserve

Statement

Congresswoman Renee Ellmers (R-NC-02) issued the following statement after voting Thursday in support of H.R. 3189, the Fed Oversight Reform and Modernization (FORM) Act. This legislation requires the Federal Reserve to publicly disclose its monetary policies.

"The Federal Reserve is a government agency whose policies directly hit the pockets of everyday Americans, yet it remains an agency clouded in mystery and one that Americans tend to know the least about. It's time we pull back the curtain on this agency and create transparency so that we know what is happening to your hard-earned taxpayer dollars."

"Yesterday I was pleased to vote for H.R. 3189, the FORM Act, which requires the Federal Reserve to explain its monetary policy so the public can better understand how the central bank is making decisions. The Government Accountability Office would also be directed to conduct an audit of the U.S. Federal Reserve--an aspect necessary to holding this agency accountable."

"I have been a longtime advocate of reigning in the Federal Reserve, and the FORM Act is a significant way we can shed light on the bank's operations."
- See more at: http://ellmers.house.gov/news/documentsingle.aspx?DocumentID=1066#sthash.We4kPiZx.dpuf

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