WASHINGTON D.C. – Sen. Rand Paul (R-Ky.) told Senate Majority Leader Harry Reid (D-Nev.) Tuesday that he will move to block Dr. Janet Yellenâ€™s nomination as the next Federal Reserve Chair unless the Senate votes on his legislation which allows the Fed to be audited.
â€œI am writing to convey my objection to floor consideration of the nomination of Dr. Janet Yellen to Chair the Board of Governors of the Federal Reserve without also considering legislation to bring much-needed transparency to the Fed,â€ Paul saidÂ in a letter to Reid.
â€˜[I] will object to any unanimous consent agreement or waiver of any rule with respect to the noimination of Dr. Yellen without a vote on S. 209,â€ Paul continued. â€œI know you have been a supporter of similar legislation in the past, and I hope that we can work together to pass this important legislation.â€
The bill in question, the â€œFederal Reserve Transparency Act,â€ would allow the Government Accountability Office to audit the Federal Reserve.
â€œThe American people have a right to know what this institution is doing with the nationâ€™s money supply. The Federal Reserve does not need prolonged secrecyâ€”it needs to be audited, and my bipartisan Federal Reserve Transparency Act will do just that,â€ Sen. Paul said in a statement Tuesday.
In March, Paul filibustered the confirmation of John Brennan to Director of the CIA for almost 13 hours.