8: Inflation & the Federal Reserve

Brings transparency and accountability to the Federal Reserve, the Federal Open Market Committee, and the Fed’s dealings with foreign central banks.

Other Information:

A sound monetary policy is critical for maintaining a strong economy. Inflation diminishes the purchasing power of the dollar at home and abroad and is a hidden tax on the American people. Moreover, the inflation tax is regressive, punishes those who save, transfers wealth from Main Street to Wall Street, and has grave implications for seniors living on fixed incomes. Because the Federal Reserve’s monetary policy actions affect both inflation and economic activity, those actions should be transparent. Moreover, the Fed’s important role as a lender of last resort should also be carried out in a more transparent manner. A free society demands that the sun shine on all elements of government. Therefore, the Republican Party will work to advance substantive legislation that brings transparency and accountability to the Federal Reserve, the Federal Open Market Committee, and the Fed’s dealings with foreign central banks.

Stakeholder(s):

• Federal Reserve


• Federal Open Market Committee


• Foreign Central Banks


• Main Street


• Wall Street

Objective(s):

8.1: Audit

8.2: Commission

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