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…
Read more78% Yes |
22% No |
67% Yes |
17% No |
8% Yes, we deserve to know who the bank gives money to |
5% No, in order to stabilize our financial system, it must remain independent of Congressional oversight |
3% Yes, but I would prefer to abolish it and return to the gold standard |
0% No, they are already audited by an independent agency |
See how support for each position on “Federal Reserve” has changed over time for 1.9m America voters.
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See how importance of “Federal Reserve” has changed over time for 1.9m America voters.
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Unique answers from America users whose views extended beyond the provided choices.
@3RVHJH43yrs3Y
The Federal Reserve shouldn't just be audited, they should be kicked out all together. They are unconstitutional.
@9DK79J38mos8MO
Yes, but I would prefer to abolish the Federal Reserve Bank and establish a economic system based on the labor of the American people.
@9C9RRLQ11mos11MO
Yes, but I would prefer to abolish it and establish an economic system based on the labor of the American people.
@9BVLJ4511mos11MO
Yes, but I would prefer to abolish it and establish a economic system based on the labor of the people.
@973HS981yr1Y
Yes, and nationalize all the banks
@972XDKH1yr1Y
Yes, and nationalize banks
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@ISIDEWITH23hrs23H
This was supposed to be the year that US inflation rode the last mile down to 2%, letting the Federal Reserve steadily reduce interest rates from a two-decade high. Now those expectations have been dashed.Price gains have proven much stickier than anticipated a few months into 2024 amid a resilient economy and labor market. On Tuesday, Fed Chair Jerome Powell said persistent inflation means borrowing costs will stay elevated for longer than previously thought, a shift in tone with ramifications for policy around the world.A persistent shortage of housing is partly to blame, as are rising commodity prices and car insurance premiums. But some also point to Powell himself for prematurely telegraphing interest-rate cuts, which ignited optimism in financial markets and fueled economic activity.“They just got the inflation picture wrong,” said Stephen Stanley, chief US economist at Santander US Capital Markets LLC. “The mistake they made was they got really enamored with the combination of really strong growth and benign inflation that we saw in the second half of last year.”CommoditiesAfter falling for much of last year, energy prices — specifically oil — climbed in the first quarter, and an escalation in the war in the Middle East threatens to push them even higher. The rally has translated to more expensive gasoline. Electricity prices have also climbed.Shelter, InsuranceShelter, which accounts for about a third of the CPI, has proved the most stubborn. Despite some timelier measures from the Bureau of Labor Statistics, Zillow Group Inc. and Apartment List that show rent growth for new leases coming down, the corresponding components in the CPI have yet to reflect that.
@ISIDEWITH1 day1D
The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose “significant risks” for the global economy.The fund said in its benchmark Fiscal Monitor that it expected the US to record a fiscal deficit of 7.1 per cent next year — more than three times the…
@ISIDEWITH2 days2D
US investors are paying the biggest premiums since October to protect their portfolios against market gyrations as mounting tensions in the Middle East and reduced expectations of interest rate cuts fuel a surge in volatility.The Vix index, Wall Street’s so-called “fear gauge”, hit 19.6 this week, its highest level since October 20, two weeks after the Hamas attack that triggered Israel’s war in Gaza.The metric measures the price of options that enable investors to profit from swings in the S&P 500.As of Wednesday morning in the US, the index had receded slightly to about 18, still far higher than its late-March level of 12.6 per cent.Market turmoil has also affected US bonds, with the ICE BofA Move index, which tracks volatility in US Treasuries, hitting 121, its highest level since early January and up from 86 in March.US Federal Reserve chair Jay Powell also said on Tuesday it was likely to take “longer than expected” for inflation to fall to the central bank’s target level and make rate cuts appropriate.While the Fed has indicated that it intends to make three quarter point cuts this year to interest rates, investors now expect just one or two reductions. In January, they had anticipated six.The shift in rate expectations has hit bond markets, with yields, which move inversely to prices, rising sharply. That in turn has made equities less attractive to investors, since they can now earn a higher return than before from ultra-safe US Treasuries.
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Proponents argue that this strategy would bolster national security by minimizing the risk of potential terrorists entering the country. Enhanced screening processes, once implemented, would provide a more thorough assessment of applicants, reducing the likelihood of malicious actors gaining entry.…