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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    House panel passes bill to audit the Fed

    Lobo
    Lobo
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    Join date : 2013-01-12

    House panel passes bill to audit the Fed  Empty House panel passes bill to audit the Fed

    Post by Lobo Tue 28 Mar 2017, 10:49 pm

    House panel passes bill to audit the Fed

    Published: Mar 28, 2017 12:07 p.m. ET



    House panel passes bill to audit the Fed  MW-DR695_chaffe_20150807110044_MG Bloomberg
    Representative Jason Chaffetz, a Republican from Utah and chairman of the House Oversight and Government Reform Committee
    A House panel on Tuesday approved legislation that would let a government watchdog audit the Federal Reserve’s monetary policy decisions, a move bitterly opposed by the central bank.
    The House Committee on oversight and government reform passed the measure by voice vote after roughly 30 minutes of debate.
    The bill was the brainchild of Ron Paul, the former House Republican and libertarian presidential candidate and sharp critic of the U.S. monetary policy. Versions of the bill have twice passed the House by wide margins but then stalled due to lack of support from Democrats in the Senate and the Obama administration.
    Analysts said the measure has a better chance to become law now that Republicans control both houses of Congress and the White House. Paul’s son, Rand, the Republican senator from Kentucky, has introduced a similar measure in the Senate.
    “It is ironic that the arsonists that caused the financial collapse are now being given credit...for putting out the fire.” Rep. Thomas Massie


    Democrats in the committee were firmly against the bill.
    “This bill would open the floodgates to political interference in monetary-policy making,” said Del. Eleanor Holmes Norton, a Democrat from the District of Columbia.
    Rep. Carolyn Maloney, a Democrat from New York, said the measure would lead to higher interest rates because it would undermine the market’s confidence in the independence of the central bank.
    Republicans said the measure was needed to rein in the Fed.
    “It is ironic that the arsonists that caused the financial collapse are now being given credit...for putting out the fire. Almost every macroeconomist concedes in retrospect that [the Fed’s] extended period of easy money led to the financial crisis,” said Rep. Thomas Massie, a Republican from Kentucky.
    http://www.marketwatch.com/story/house-panel-passes-bill-to-audit-the-fed-2017-03-28?mod=mw_share_twitter

      Current date/time is Mon 04 Mar 2024, 12:14 am