January 28, 2015 / 3:30 PM / 5 years ago

U.S. Senator Rand Paul re-introduces "Audit the Fed" bill

WASHINGTON, Jan 28 (Reuters) - Rand Paul, a Republican Senator from Kentucky and a potential 2016 presidential candidate, re-introduced a bill on Wednesday that would expose monetary policy discussions and decisions to a Congressional audit.

The Fed’s monetary policy deliberations are currently exempt from Government Accountability Office audits, though the Fed itself is subject to various government reviews.

Paul’s move to re-introduce the bill, along with 30 co-sponsors, comes as Republican lawmakers and some Democrats increase pressure on the U.S. central bank to rein in its authority and increase transparency, in the wake of the broad regulatory powers and stimulus measures it adopted after the 2007-2009 financial crisis. (Reporting by Michael Flaherty; Editing by Chizu Nomiyama)

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