Congressman Larry Bucshon (IN-08) released the following statement regarding the H.R. 459, the Federal Reserve Transparency Act, to permit and mandate a full audit of the United States Federal Reserve by the Government Accountability Office (GAO). The bill passed by a bipartisan vote of 327-98. Congressman Bucshon was a cosponsor.
Congressman Bucshon (IN-08) states:
"With our nation and hardworking taxpayers still facing economic uncertainty, I believe there should be more transparency with the actions of the Federal Reserve. I do not wish to have Congress engage in monetary policy decisions, but to provide the American people with an honest assessment of the Federal Reserve during the stagnant recovery from our most recent recession. The Federal Reserve's balance sheets have tripled since the recession began and the American people deserve to know what they're doing with their hard earned dollars."