Fed Elite Attack Ron And Rand Paul On Audit Idea

In simultaneous fashion, Fed officials from around the country attack, while certain media defend the status quo, fight back efforts for transparency

The Federal Reserve is fighting back against Senator Rand Paul’s proposed legislation to audit the Fed.

When the Kentucky Republican presidential candidate introduced the legislation last month that would audit the activities of the Fed, it ultimately garnered 30 legislative co-sponsors.  For its part the Fed, which has long enjoyed operating in the shadows, wants to keep it that way.

Coordinated attack on Ron Paul

Fighting back against Paul’s aggression, Federal Reserve Bank of Cleveland President Loretta Mester recalled an old standard to their defense: Fed “independence.”  Calling Paul’s plan “misguided,” Mester used uncharacteristically clear and public language...