Rand Paul Proposes Ban on Lobbying by Federal Reserve

Sen. Rand Paul (R-KY) (photo credit: Gage Skidmore)

Senator Rand Paul is proposing a bill to limit the ability of the Federal Reserve to interfere in the legislative process.  The Bring Accountability Now to the Fed Act would prevent anyone working for or on behalf of the Fed from actively supporting or opposing congressional legislation:

“The Fed has used its immense power to bailout Wall Street and print money to finance our debt. When anyone rises up to challenge them, Fed officials use taxpayer dollars to lobby for more power and against oversight of their activities. It is time for Congress and the American people to say enough is enough,” Sen. Paul said in a statement on the bill.

Nick Arnold is a researcher for the American Principles Project. Continue Reading