Rand Paul Rallies Iowans to Audit the Federal Reserve
Rand Paul takes back a populist GOP cause.
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DES MOINES–Rand Paul couldn’t have planned it better. At the end of January, the senator from Kentucky introduced legislation to audit the Federal Reserve’s finances and give Congress more insight into its decisions. He’d done the same in previous years. He’d never done it in a Congress controlled by Republicans. In advance of Paul’s speech to Iowa activists, part of the group Liberty Iowa’s four-day “Audit the Fed” campaign, members of the Fed went on record criticizing Paul’s idea.
“Who in their right mind would ask the Congress of the United States—who can’t cobble together a fiscal policy—to assume control of monetary policy?” asked Richard Fisher, president of the Federal Reserve Bank of Dallas, in an interview this week with the Hill.