Paul threatens hold on Yellen
Kentucky Sen. Rand Paul is considering placing a hold on Federal Reserve chair nominee Janet Yellen to get a vote on his Fed transparency bill, a Paul aide confirmed to The Daily Caller Friday.
A hold would prevent Yellen’s nomination from immediately going to the Senate floor for a vote.
“He is intent on pushing his Fed transparency bill and that is one option that is on the table,” the aide said, explaining he is actively considering the maneuver.
“This may be the only way he can [a vote],” the aide added.
Paul introduced his most recent attempt at the Federal Reserve Transparency Act legislation in February. The act would require a full audit of the Federal Reserve.
“The Fed’s operations under a cloak of secrecy have gone on too long and the American people have a right to know what the Federal Reserve is doing with our nation’s money supply,” Paul said of his legislation at the time.
President Obama nominated Yellen this month.