Saying the Federal Reserve "needs to be audited" and "does not need prolonged secrecy," Senator Rand Paul announced on Tuesday his plans to hold Janet Yellen's nomination for chairman of the Fed until the Senate took a vote on the Federal Transparency Act. The proposal was OK'd by the House in 2012, but has been floating around the Senate for three years without a vote. “The American people have a right to know what this institution is doing with the nation’s money supply," Paul said in a statement. It takes 60 votes to circumvent a hold, and despite the stalled process, Yellen is expected to be confirmed.
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