Politics

The Sane Case for Auditing the Fed

BIG MONEY

The Federal Reserve, which was just caught playing footsie with Goldman Sachs, is as shadowy as it is powerful. So why can’t Congress bring itself to actually audit the damn thing?

articles/2014/10/02/the-sane-case-for-auditing-the-fed/141001-gillespie-audit-tease_zdujaz
Elena Scotti/The Daily Beast

If you want to get a sense of just how incredibly powerful the Federal Reserve really is, forget about interest rates, reserve requirements, or even the ways in which a random nose-pick or burp by Janet Yellin during lunch at a Jackson Hole delicatessen might send markets soaring or crashing.

Instead,...

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