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senate Bill S. 148

Audit the Fed: Does Congress Need a Review of the Federal Reserve's Operations?

Argument in favor

The Federal Reserve system is a mystery to the majority of Americans, but it plays an absolutely integral role in the U.S. economy. An audit would shed some light on a veiled part of our banking system.

Lance's Opinion
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09/08/2019
Yes and been needed for 30 years need a audit of all government spending
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Gypsy's Opinion
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09/08/2019
Absolutely. However, don’t say that too loud because you may die in an accident, suicide, etc.
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Caren's Opinion
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09/08/2019
Yes, an audit, a review, investigation of the federal reserve as well as other federal government entities should be looked into. Any government entities needs checks and balances to be sure they are being ran honestly and responsibly.
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Argument opposed

The Federal Reserve system already goes through audits, and it's making strides towards being more transparent. An audit initiated by Congress will lead to increased political influence on the Fed's policies.

jimK's Opinion
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09/08/2019
Absolutely keep politicians away from the FED. Political manipulation of our National Bank directly contributed to the Great Depression. The integrity and non-politicalization of the Fed rate setting process is mandatory for trust in the operations of world wide banking - which depends upon trust in the integrity of our currency. Trump and the Republicans have been actively threatening the Fed in an effort to delay a pending recession until after the 2020 elections. Political manipulation risks turning a recession into a full depression. Ted Cruz’s and trump’s recent attempts to reduce the capital gains tax rate by executive action or treasury rule change, actions that would completely bypass the legislature, indicates Republican’s desire to protect their wealthy benefactors who would pay less taxes when they bail out of all of their investments prior to the looming recession. It is likely to be very bad, and political manipulating of the Fed can only make it worse. This is stupid, irresponsible and economically very dangerous.
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Bwana's Opinion
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09/08/2019
This bill lacks a clear objective - other than "I want to know more." The GAO performs audits and their report is available to Congress. Frankly - I wouldn't trust Congress to make a decent cup of coffee.
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B.R.'s Opinion
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09/08/2019
The Fed is already audited. This bill makes no sense; it's a directive with no clear objective. If Congress lacks the understanding of what and how the Fed operates, they should approach the matter in a way that educates them rather than just call for an open-ended audit.
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bill Progress


  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
      senate Committees
      Committee on Banking, Housing, and Urban Affairs
    IntroducedJanuary 16th, 2019
    Yes and been needed for 30 years need a audit of all government spending
    Like (38)
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    Absolutely keep politicians away from the FED. Political manipulation of our National Bank directly contributed to the Great Depression. The integrity and non-politicalization of the Fed rate setting process is mandatory for trust in the operations of world wide banking - which depends upon trust in the integrity of our currency. Trump and the Republicans have been actively threatening the Fed in an effort to delay a pending recession until after the 2020 elections. Political manipulation risks turning a recession into a full depression. Ted Cruz’s and trump’s recent attempts to reduce the capital gains tax rate by executive action or treasury rule change, actions that would completely bypass the legislature, indicates Republican’s desire to protect their wealthy benefactors who would pay less taxes when they bail out of all of their investments prior to the looming recession. It is likely to be very bad, and political manipulating of the Fed can only make it worse. This is stupid, irresponsible and economically very dangerous.
    Like (62)
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    This bill lacks a clear objective - other than "I want to know more." The GAO performs audits and their report is available to Congress. Frankly - I wouldn't trust Congress to make a decent cup of coffee.
    Like (30)
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    AUDIT THE DOD!!!
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    Absolutely. However, don’t say that too loud because you may die in an accident, suicide, etc.
    Like (22)
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    The Fed is already audited. This bill makes no sense; it's a directive with no clear objective. If Congress lacks the understanding of what and how the Fed operates, they should approach the matter in a way that educates them rather than just call for an open-ended audit.
    Like (18)
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    Yes, an audit, a review, investigation of the federal reserve as well as other federal government entities should be looked into. Any government entities needs checks and balances to be sure they are being ran honestly and responsibly.
    Like (18)
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    I agree with Janet Yellen that this not a good bill for the Federal Reserve. It is more Red politicizing policy in order to control the Fed. This bill will not accomplish anything good, and could break the Fed, all so the Reds can say they accomplished something. Another bill that is a waste of time. The Fed is an independent body, and needs to remain so.
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    I say YEA on this one: We need to know what it is we are truly dealing with, what the numbers are AND WHO WE ARE TRULY DEALING WITH. And if they say, "well that's secret or propietary info," we should just simply kick them aside so the PRIVATELY OWNED FED can go fu.. themselves. They'll go kerplunk if they don't have us, and they KNOW this😉🤓 The banking system IS dirty as can be and we need to clean the shit up and get the turds outta there and get it running smoothly and all above board. At the same time we NEED to get a grip on the offshore banks where MANY launder their money and hide it as well. (Senators/Congress🤭). We(United States) are made up of some of the best minds on the planet. We should/could come together for the better good and do this stuff the correct way cutting out ALL loopholes in the laws. Don't you thinks so? I mean it IS in our name after all: UNITED States of America🇺🇸 UNITED WE STAND MAN😎 Not Just Texas, New York, California and Florida😉😉 Cuz they have the money here, AND SO MOST OF THE SAY, IN THE CURRENT WAY😉 and it shouldn't be that way. Don't you say? PuffPuffPass💨😎✌️
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    The Fed Reserve is already audited.
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    Congress reviewing the Fed Board? That’s laughable. Keep politics out of the Fed.
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    The Fed has a audit system currently in place and working.
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    Audit the fed and end it
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    A top too bottom review and a real audit of everything no exceptions. #MAGA
    Like (9)
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    The fed is an independent body, free from government influence. Government involved would prohibit the fed from accurately perform doing its job
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    Audit military spending instead!! That’s where the corruption and theft is. Trump attacks the Fed because the Fed sticks to very good sound economic policy that Trump is too stupid to understand (so he opposes it. ) Shut up Trump!
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    OMG, Rand Paul! That was all you needed to say, Drcindybean! Boy, he and Mitch sure keep the people of their State (Kentucky), dumbed down, don’t they? Wonder where they place on the educated list. Given the sleazy, robber barons they keep electing, I would think it was pretty far down! Any audit being done should be on the Pig who’s destroying this once-great Nation. The Federal Reserve does NOT make decisions based on a whim of an Idiot, thank God, or we would have been down the tubes long ago! NAY is not nearly strong enough to express what an idiotic idea this would be, given who submitted it. I feel very sorry for his neighbor...
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    I am conflicted about this bill. First of all, I have a hard time believing that the Fed does not have transparency audits in place, as i have reviewed documents that would come from audits. Secondly, I don’t feel the Congress’s from the last thirty years would only use this to politicize the Fed, something the Administrative branch is already trying to do. I believe, given the current state of the government, this is unnecessary at best and dangerous at worst.
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    Oh yeah let’s find out where her money is being wasted
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    The federal reserve is independent and should remain so. We don’t need people like Rand Paul, Trump or other republican “auditing” to look for some something that he can use for political points.
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