Sen. Rand Paul Urging Federal Reserve Fight
U.S. Sen. Rand Paul is urging a fight over the nomination of Janet Yellen to chair the Federal Reserve unless the Senate takes up a bill to audit the Fed.
"Hi, I'm Sen. Rand Paul. There's no time to waste..." So begins an online message recorded by Sen. Paul for his father, former Texas Representative Ron Paul’s political group, Campaign for Liberty. The junior senator from Kentucky reportedly plans to push the Senate to vote on the Federal Reserve Transparency Act of 2011.
"You see, while the Fed continues to inflate our currency, wreck our economy, and operate in the shadows, you and I have an opportunity. I say vote no on a new Fed chairman without a vote on my 'Audit the Fed' bill," the senator says.
The move isn’t a first for Paul, who mounted a 13-hour filibuster against John Brennan’s nomination to head the CIA over the issue of drone strikes earlier this year. In a piece entitled “Why I Plan To Grill Yellen” Paul wrote that the Fed needs to be reformed to prevent Yellen, or any other future nominee, from using the institution’s enormous power to “aid and abet the allies of big government.”