Kentucky senator and libertarian boy-wonder Rand Paul says he will block confirmation of Janet Yellen as chairman of the Federal Reserve if we don’t audit the Federal Reserve.
Sen. Rand Paul is threatening to put a hold on the nomination of Janet Yellen to chair the Federal Reserve, a source close to the Kentucky Republican said Friday. [...]
“As part of Senate consideration of the Janet Yellen nomination to be Chair of the Federal Reserve, I will request a vote on my bipartisan Federal Reserve Transparency Act, S. 209. The American people deserve transparency from the federal reserve and the federal government as a whole,” Paul said in a statement following the reports.
I’m in favor of monetary transparency, but at the same time I believe that even if we did audit the Fed, most people, including Rand Paul himself, wouldn’t understand what they’re looking at.
Your average person may not even know the difference between the deficit and the debt or how the debt ceiling works. Your average congressman may not even know the difference. And those are simple things in comparison.
This could be Janet Yellen’s first taste of what she’ll have to deal with in Monkey Court.