Rand Paul Threatens To Block Fed Confirmation
Sen. Rand Paul, R-Ky., threatened last week to block President Obama’s pick to lead the Federal Reserve, creating yet another speed bump in what has already been an unusually contentious nomination.
In a video posted online Thursday, Paul called for a halt on confirming Janet Yellen, the central bank’s vice chairman, for the top job unless lawmakers also vote on his bill to increase transparency at the Fed. The measure was originally introduced by his father, former representative Ron Paul, R-Texas, in the aftermath of the financial crisis.
“I say no vote on a new Fed chairman without a vote on my Audit the Fed bill!” reads the text on a video made for Campaign for Liberty, the political organization founded by his father. The video was also sent by email to the group’s 750,000 supporters.