According to a recent Rasmussen telephone poll 75% of Americans are in favor of a Federal Reserve Audit. The results show that only 9% oppose the idea and 15% are not sure.
Texas Congressman Ron Paul introduced H.R. 1207, which would allow the Government Accounting Agency to audit the books of the Federal Reserve. The bill now has 282 co-sponsors in House including all Republicans and 101 Democrats. The Senate version of the bill has 20 co-sponsors.
According to Rasmussen Reports:
Support for the bill has grown now that the Obama administration is proposing to give the Fed greater economic regulatory powers. The Fed which sets U.S. monetary policy was created as an independent agency to keep it free of politically-motivated interference.
Predictably, Fed Chairman Ben Bernake is opposed to the bill saying on PBS, “I don’t think the American people want Congress running monetary policy.”