Full Audit of the Federal Reserve: Increasing Central Bank Transparency
This law mandates a full audit of the Federal Reserve System and its regional banks by the Government Accountability Office (GAO). The goal is to remove existing legal barriers to comprehensive oversight, ensuring greater transparency in how the Fed manages monetary policy and uses emergency funds. Citizens will gain better insight into the economic decisions that directly affect inflation and interest rates.
Key points
Requires the Government Accountability Office (GAO) to complete a full audit of the Federal Reserve within 12 months.
Removes previous legal restrictions that limited the scope of audits of the Fed's operations.
Mandates public reporting of the audit findings to Congress, enhancing accountability of the central bank.
Status:
Expired
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