Thanks to Campaign for Liberty’s Audit the Fed efforts, the Federal Reserve is under more scrutiny than ever before.
But considering the damage an out-of-control Fed has inflicted on our dollar and our economy over the years, you and I can’t afford to lay off the pressure to hold it accountable.
Currently, there are two open seats on the Fed’s Board of Governors, and those who eventually occupy those spots will also sit on the Federal Open Market Committee, meaning they will have tremendous influence over the direction of our economy.
A full term for a Fed Governor is 14 years.
So it’s vital that the Senate, which is in charge of confirming the President’s nominees to the Board, never take its responsibility lightly.
Yet, recently, Senator David Vitter has come under harsh attack for simply demanding a full debate over the President’s nominees, Harvard economist Jeremy Stein and investment banker Jerome Powell.
The Fed’s supporters would love nothing more than for these nominees to sail through on a “unanimous consent” vote.
But Senator Vitter is rightly concerned that these nominees will just be “rubber stamps” for a more aggressive, interventionist Fed.
Since Senator Vitter has placed a “hold” on these nominations, Senate Majority Leader Harry Reid must come up with 60 votes to move ahead with their confirmations.
Senator Reid could move at any time to force a vote on these nominees, so I’m asking C4L members to join with Senator Vitter in demanding a full debate.
Click here to find your senators’ information.
Call and write them today to urge them to stand with Senator Vitter.
As Senator Vitter has stated, "These two Fed nominations and Fed monetary policy are tremendously important matters. Because they are, and because I have serious concerns with the Fed's activist, easy money policies, I'm demanding a Senate debate and vote rather than just rubber-stamping the nominations with no debate."
Your senators can also stand for common-sense economic policies by voting “No” on any cloture vote.
Turning around this economy will require cutting spending, removing abusive regulations and burdensome taxes, and holding an out-of-control Federal Reserve accountable – not increasing its “activism.”
Senator Vitter took a brave stand in support of Audit the Fed when his Senate colleagues were caving in to support a watered-down audit in 2010, so I hope you will join with him today.