WASHINGTON, DC – Congressman Alex X. Mooney spoke on the floor of the United States House of Representatives Wednesday morning to stress the importance of stronger oversight of the Federal Reserve.
“The Federal Reserve’s monetary policy impacts almost every facet of daily life in America; from grocery prices, to how valuable the money you have in savings is, to the price you pay for home loans," said Rep. Mooney.
“Despite the Federal Reserve’s enormous power, it conducts its monetary policy in secret. An entity that controls so many aspects of Americans' lives cannot be permitted to operate in the dark; the Federal Reserve must be held accountable to the people.”
Congressman Mooney is a cosponsor of the Federal Reserve Transparency Act, H.R. 24. The bill calls for an audit of the Board of Governors of the Federal Reserve System (Federal Reserve Board) and of the Federal Reserve Banks.
For the full text of Congressman Mooney’s statements on the floor please contact Meredith Jones at 202-225-2711 or at Meredith.Jones@mail.house.gov.
Alex X. Mooney represents West Virginia’s Second Congressional District in the U.S. House of Representatives. He is a member of the Budget and Natural Resources Committees.
###