GOP Senator Agrees with Yellen: 'Audit the Fed Effort Would Not be a Good Idea'

At a Committee on Banking, Housing, and Urban Affairs hearing Tuesday, Sen. Bob Corker agreed with Federal Reserve Chairwoman Janet Yellen in opposing 'audit the Fed' efforts saying, the "audit the Fed effort is to not address auditing the Fed," but to "allow Congress to be able to put pressure on Fed members," which "would not be a particularly good idea." "It's obvious to me that the audit the Fed effort is to not address auditing the Fed, because the Fed is audited, and every day you publish the CUSIP numbers of things you own and the credit facilities you put in place during an emergency - all of that is audited now," said Corker.

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