White House Deputy Chief of Staff James Blair discussed President Donald Trump, who was calling Fed Chair Zerom Powell on ‘Kudlo’ on ‘Kudlo’.
federal Reserve (“Fed”) is a Bimoth agency that has the ability to manipulate and control the entire American economy. Our jobs, our finance, our savings and, ultimately, our livelihood – they are all subject to the decisions made in the fed.
But the fed’s ideas and operations are behind the closed doors.
It is time for us to know how Fed makes his decisions. The Congress should take immediate steps to provide transparency to American people.
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No other institution has such uncontrolled power. Do not look beyond the unlimited authority used in response to the Covid-19 epidemic. Fed printed money, government -backed securities purchased and took out a huge amount of funds for favored industries. These works added about $ 5 trillion debt to the balance sheet of the Fed.
The push to audit the fed has become bipartished and there is a new law that will do this.
To be clear, the representatives of the Fed are only interested in transparency, the extent it gives them a political cover. Because, for them, the ambiguity of the fed is a characteristic, not a bug, and their leadership considers privacy as a great property.
If you ask them, it is really bad for American people and for those taxpayers who increase their financial home of cards. From the perspective of the fed, even this system is somehow harmful or dangerous to question.
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Our country is now in debt more than $ 37 trillion. Enough people in Washington are not ready to say “not” because they do not want to stop spending other people – “other people” are future generations of Americans who are uninterested against the current voices as they ask for today’s money.
Fed is a part of responsibility for this, as their machines and manipulations help eliminate this unstable condition, but with increasing difficulty every year.
‘Varney and Company’ host Stuart Varni discussed renewal with President Donald Trump’s public ‘argument’ with Fed Chair Jerome Powell.
No one pays attention to hundreds of billions of dollars, which were unnecessarily paid to banks so that consumers could not be paid money.
For almost a century, Fed did not pay any interest to banks to keep federal reserves in the deposit boxes of those banks, but all this changed in view of the 2008 financial crisis.
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Interest to banks to keep fed funds was originally to control inflation. And from 2008 to 2016, the interest rate on the reserves was 0.25%, and the annual payment was an average of $ 5 billion.
But the situation quickly separated dramatically. Today’s interest rate is more than 4% and later, the subsidy of the fed to the banks touched the sky. To be clear, this means that Fed has paid hundreds of billions of dollars to banks for not giving money to consumers.
If you ask them, it is really bad for American people and for those taxpayers who increase their financial home of cards. From the perspective of the fed, even this system is somehow harmful or dangerous to question.
In 2022, Fed paid around $ 60 billion to banks. In 2023, the Fed payment to banks exceeded $ 176 billion, and in 2024, the Fed subsidy to the banks to around $ 186 billion. And 44% of these subsidies are paid to foreign banks.
it gets worse. Fed is not beneficial and not beneficial for many years. In fact, I have argued that Consumer Financial Protection Bureau, The Levithan agency that does notorously receive funding from the Fed should be discontinued as the Fed has been working in loss since 2022.
Fed has continued to work in loss, as due to financially illiterate commitment to make these interest payments, which are fully discretionary and not necessary.
The Fed has the right to restore reserved remaining requirements and ensure that banks will not be entitled to these interest payments. Meanwhile, Fed is choosing through its policies to spoil their losses, as they need to be.
Treasury Secretary Scott Besent said that we need to examine every aspect of the Fed. File: On March 7, 2025, the White House in the State Dining Room of the White House looks at Besant and President Donald Trump during the Digital Asset Summit. (Anna Moneymaker / Getty Image / Getty Images)
While the Fed no longer has profit and has refunded any profit by sending taxpayers to the Treasury, it has paid hundreds of billions of dollars to banks. Meanwhile, the country’s largest banks receive the wholesale of Fed Payment.
However, it is difficult to say who and how much, because it is all a secret that is kept hidden by the fed, and it can only be the tip of the iceberg.
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Taxpayers need to know why Fed cannot afford the policies that benefit them, but banks can afford hundreds of billions in payment.
The good news is that I am leading the charge against Fed’s mismanagement and privacy, and our rank is increasing.
Azoria CEO James Fishback has been widely criticized by Jerome Powell, president of Federal Reserve, which is not at low rates.
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On July 21, I abolished “Fed’s Big Bank Bailout Act, which will end, which will end federal ReserveSubsidies to large and foreign banks by prohibiting payment of interest on reserved balance. Vermont Independent Sen. Berney SandersSupporting this law is a sign of a comprehensive appeal for banks to abolish the easy profit at the cost of taxpayers.
I then proposed a law to audit Fed, “”federal Reserve Transparency act. “More and more figures in the government are proceeding to justify the Fed, and the creation of speed for transparency.
Now, in response to a report of hundreds of million million in the cost overran for renewal of $ 2.5 billion of Federal Reserve offices, the dam is broken.
In 2022, Fed paid around $ 60 billion to banks. In 2023, the Fed payment to banks exceeded $ 176 billion, and in 2024, the Fed subsidy to the banks to around $ 186 billion. And 44% of these subsidies are paid to foreign banks.
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US Treasury Secretary Scott Besant On July 21, it was indicated that we “need to investigate the entire Federal Reserve Institution and whether they have been successful () whether the organization has been successful in its mission? … … All these PhDs are there, I don’t know what they do.”
Without accountability and transparency, Fed has manipulated the economy and abolished resources. The reality is undisputed. The urgency is real. Now there is a moment. This is the time to audit Fed.
Republican Rand Paul represents Kentki in the United States Senate. He is the author of the book “Case against socialism“(Broadside Books, October 2019).
