Rand Introduces “Audit the Fed” Amendment to Cybersecurity Bill

WASHINGTON, D.C. – U.S. Senator Rand Paul today introduced his Federal Reserve Transparency Act as an amendment to theCybersecurity Information Sharing Act, S. 754, currently being considered by the U.S. Senate. Widely known as "Audit the Fed," the amendment seeks to eliminate restrictions on Government Accountability Office (GAO) audits of the Federal Reserve (Fed) and mandates that the Federal Reserve's credit facilities, securities purchases, and quantitative easing activities be subject to Congressional oversight.

"A complete and thorough audit of the Fed will finally allow the American people to know exactly how their money is being spent by Washington. The Fed currently operates under a cloak of secrecy and it has gone on for too long. The American people have a right to know what the Federal Reserve is doing with our nation's money supply, and the time to act is now," Sen. Paul said.

Click HERE to read Sen. Paul’s legislation.