Why I Want More Thorough Fed Audits

When the Fed raises interest rates, what happens to the value of its portfolio?

Imposing, but not infallible.

Photographer: Andrew Harrer/Bloomberg

The U.S. Federal Reserve has grown massively in recent years. Since the 2008 financial crisis, it has increased its balance sheet from less than $1 trillion to an incredible $4.4 trillion. Given this sharp increase in the Fed's risk, it's reasonable that the Fed should be audited more thoroughly than in the past. 

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