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Last answered 1 hour ago
Distribution of answers submitted by American voters.
No, in order to stabilize our financial system, it must remain independent of Congressional oversight
Data includes total votes submitted by visitors since Jan 15, 2016. For users that answer more than once (yes we know), only their most recent answer is counted in the total results. Total percentages may not add up to exactly 100% as we allow users to submit "grey area" stances that may not be categorized into yes/no stances.
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* Data estimated by matching users to U.S. Census data block groups via the American Community Survey (2007-2011)
Learn more about Federal Reserve
The Federal Reserve is the central banking system of the US government. The main goal of the bank is to manage the US government’s money supply and stabilize the nation’s banks during panics and recessions. In 2015, Senator Rand Paul (R-KY) and Congressman Thomas Massie (R-KY) introduced the Federal Reserve Transparency Act of 2015 which would require the bank’s board of governors to conduct an audit and release it to Congress. An audit would determine if the accounting records the bank makes public are true and give Congress an insight into how the bank is run. Senator Paul has been a fierce critic of the bank’s practices, calling it a "political, oligarchic force, and a key part of what looks and functions like a banking cartel." Proponents of the audit argue that the Federal Reserve bank should be audited after the role it played in the 2008 fiscal crisis when it took on trillions in debt to bail out several of the country’s largest banks. Opponents of the audit argue that the government accountability office already audits the Federal Reserve and a Congressional audit would destroy its independence. See recent Federal Reserve news
More stances on this issue
The Federal Reserve shouldn't just be audited, they should be kicked out all together. They are unconstitutional. 3 years ago from a Libertarian in New Brighton, MN
There should not be a congressional oversight but the federal reserve should answer publicly. 3 years ago from a Democrat in Potwin, KS
There needs to be accountability. 3 years ago from a Constitution in Canadian, OK
Yes, and then the Federal Reserve and IRS should be abolished and we should return to the Gold Standard. 3 years ago from a Republican in Yellow Pine, ID
No, this is a political red herring. 3 years ago from a Democrat in San Francisco, CA
The Federal Reserve Bank should be audited, but by an independent auditor, as Congress is too politicized and incompetent to perform a reliable audit. 3 years ago from a Green in Rochester, MN