Audit the Federal Reserve
The Federal Reserve has created and disbursed trillions of dollars to banks and financial institutions in response to the financial crisis. The total amount of loans made through facilities exceeds the annual budget of the United States. Americans across the nation want to know where that money has gone and exactly how much has been spent.
Since its inception, the Federal Reserve System has operated without sufficient transparency or accountability to the American people. In fact, current law specifically excludes the Fed from a thorough audit or real congressional oversight. No other government entity has such an utter lack of sunshine.
Public Citizen is fighting for more transparency at the Fed. It’s time to allow the Government Accountability Office – the auditors for the federal government – to audit the Fed regularly so that it's accountable to the American people.