WASHINGTON, D.C. – U.S. Senator Joni Ernst (R-IA) released the following statement after voting in support of the Federal Reserve Transparency Act of 2015 (S.2232), legislation to audit the Federal Reserve:
“The Federal Reserve has an enormous impact on the lives of Iowans and all Americans, and we must ensure that Congress and the public have enough information on its activities.
“Current efforts do not provide adequate disclosure of the Federal Reserve’s most important functions, including managing interest rates and the money supply. Given the Federal Reserve’s increased role in the last financial crisis and their actions since, having congressional oversight and open access to this information is critical.
“Iowans deserve transparency and accountability, so I’m disappointed some in the Senate would block this bipartisan measure that would pull back the curtain on the Federal Reserve’s activities.”