During consideration of a consolidated appropriations minibus (H.R. 4366), Senator Rand Paul (R-Ky.) offered an amendment to require that the U.S. comptroller general conduct a full audit of the Board of Governors of the Federal Reserve System and the Federal Reserve banks.
The Senate rejected Paul’s amendment on November 1, 2023 by a vote of 46 to 51 (Roll Call 280). We have assigned pluses to the yeas because the Federal Reserve System, essentially a cartel of private banks functioning as a central bank, is unconstitutional and responsible for many of the nation’s current financial problems via its control of money and credit. Auditing the Fed would shed light on its otherwise secretive practices, and perhaps lead to its eventual abolishment.
