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.
More from CNBC
..................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.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The stock market capped the trading week with losses across the major averages. The S&P 500 fell 0.5% to surrender its weekly gain, while the Dow Jones Industrial Average (-0.7%) and Russell 2000 (-0.9%) underperformed. The two indices posted respective losses of 0.8% and 0.6% for the week.
Equity indices were pressured from the get-go after several heavyweights disappointed the market with their earnings and/or guidance, which led to some broader profit-taking. After ... More
More Market News
|There’s a problem getting this information right now. Please try again later.|
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'