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Former Congressman Ron Paul’s decades-long campaign for Federal Reserve transparency has gained unexpected momentum with support from Elon Musk, who now heads the Department of Government Efficiency Service (DOGE).
Paul advocates for a thorough audit that would reveal the Fed’s decision-making processes, overseas transactions, and policy implementation details – going far beyond the current annual financial audits.
While Fed Chair Jerome Powell maintains that the bank is already sufficiently transparent through its existing audit processes and delayed release of meeting minutes, Paul argues this isn’t enough, emphasizing the need for real-time access to policy discussions and international operations.
The 89-year-old former presidential candidate dismisses concerns about Fed independence, suggesting it’s merely a shield for maintaining secrecy in operations.
