Exclusive–Congressman Massie: ‘We Need to Audit the Fed, It’s a Creature of the Swamp’

29 Mar 2017

The House Oversight and Government Reform Committee passed a bill on Tuesday to fully audit the Federal Reserve.

The House passed previous versions of the legislation in 2012 and 2014, with dozens of Democrats joining Republicans in support. Previous bills to audit the Federal Reserve died in the Senate.

While on the campaign trail, Donald Trump expressed interest in passing legislation to audit the Federal Reserve.


Massie argues that the Fed’s lack of transparency makes it harder to assess the effectiveness of monetary policy. He said:

I don’t know whether raising interest rates is good or bad but what is the thought process behind it? Why do we have to read the smoke signals from the Fed to figure out how often and how much they will raise interest rates?