The Fed Fires Back at Rand Paul

The Hill ^ | Feb. 5, 2015 | Fred Cirilli

[SatinDoll]

The Federal Reserve is lashing out at Sen. Rand Paul’s plan to give Congress more oversight over the central bank, a proposal that could gain traction in the new Republican-led Congress.

The Kentucky Republican reintroduced his “Audit the Fed” legislation last month with 30 co-sponsors, including other potential 2016 GOP hopefuls, Sens. Ted Cruz (Texas) and Marco Rubio (Fla.).

[snip]

On Wednesday, Cleveland Fed President Loretta Mester criticized the legislation as “misguided” during public remarks in Columbus, Ohio.

“They really are about allowing political considerations to influence monetary policy decisions,” Mester said in her speech. “This would be a tremendous mistake, because it would ultimately lead to poorer economic performance.”

[snip]

[Pelham]

Some wit said that any time you pass a closed door in Washington DC you have found a conspiracy.

I was particularly speaking of the subject at hand but conspiracy buffs do tend to move as a herd among some well worn subjects. Occam’s Razor is evidently their great enemy and they employ claims that aren’t subject to falsification. It’s really a matter of epistemology, and using Popper’s argument what they are doing isn’t science.

[SunkenCiv]

Audit the Head!