Paul threatens to put hold on Yellen nomination
A GOP source says the senator is insisting on a vote on his bill to mandate a complete audit of the Federal Reserve.
By Steve Liesman
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 on Friday.
Paul is insisting on a vote on his Fed transparency bill and has informed Senate leadership of his intentions, the source said.
Paul intends to formally put the hold in place next week, once the Senate is back in session, the source added.
Markets gave back some of their earlier gains on the report.
The senator's bill would mandate a complete audit of the Federal Reserve.
According to his website, his bill is a version of legislation advocated by his father, the former Texas congressman and presidential candidate Ron Paul.
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..................Rand Paul's plan makes complete sense....................
Most, if not all, Fortune 500 companies have twice yearly audits with many having certified audits. It's simply good business so that the shareholders can see the exact financial condition of the businesses they are investing in.
With the Fed Reserve handling trillions of dollars - it would be foolish not to conduct regular audits.
Common sense prevails with the GOP!!
"We the People" are only about a hundred or more years behind demanding an audit of the (private) Fed. Reserve. Yet, judging by the comments, too many STILL consider the issues as based on party affiliation.
Calling for an audit should be based on the fact that those benefitting from Fed. Res. secrecy do not polarize by partisanship in either of the three pseudo parties that exist to keep us divided. Wake up and smell the truth: Political parties are useless in defining anything political. They are only useful (to insiders) in keeping the population (outsiders) divided on all issues.
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[BRIEFING.COM] S&P futures vs fair value: -4.80. Nasdaq futures vs fair value: -7.80. U.S. equity futures remain below their flat lines, which has been the case through the course of the night. If the current indication holds, the S&P 500 will take a step back after climbing 1.4% during the first two sessions of the week.
There was no market-moving data released this morning, but the FOMC will reveal the minutes from its latest policy meeting at 14:00 ET. Due to the ... More
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