Towards a More Transparent Fed
Iain Murray and I have a piece in today’s American Spectator breaking down the new paper we co-wrote with John Berlau about questions we would like Janet Yellen to answer, whether in her confirmation hearing or elsewhere. The main point is transparency:
Transparency is essential for a public body that takes trillion dollar decisions. We need to know what she feels about the possibility of auditing the Fed. Indeed, Senator Rand Paul has already announced that he will place a hold on her nomination until he sees some progress with his Federal Reserve Transparency Act bill — something that Senate Majority Leader Reid used to support. If and when Professor Yellen does come before a confirmation hearing, Senators need to make her views on these questions transparent to the nation too.