"Independent" Federal Reserve Chair holds private meetings with Senate Democrats

[NACBA]

POSTED BY Megan Stiles January 30, 2015

Just one day after Senator Rand Paul introduced legislation requiring a full audit of the Federal Reserve, Federal Reserve Chair, Janet Yellen, was on the Hill meeting with Democratic Senators. From The Hill:

Federal Reserve Chairwoman Janet Yellen is meeting Thursday with Senate Democrats.

The meeting comes a day after Sen. Rand Paul (R-Ky.) reintroduced legislation that would require a full audit by the Government Accountability Office for the Fed.

Yellen has repeatedly opposed such legislation and said in December she would “forcefully” argue against another audit bill in 2015.

http://www.campaignforliberty.org/i...chair-holds-private-meetings-senate-democrats

 

[ClydeCoulter]

If you have nothing to hide, Yellen, then why the "secret" meeting with our "representative" senators, and that from only one party?

 

[Zippyjuan]

http://www.wsj.com/articles/yellen-tells-senate-democrats-u-s-economy-is-strong-1422562813

The congressional meeting comes one day after the Fed’s most recent policy meeting, when the central bank said it would be patient before raising short-term interest rates. In its postmeeting policy statement, Fed officials upgraded their assessment of U.S. economic output, but expressed some caution about low inflation and the international backdrop.

Ms. Yellen will deliver her official semiannual testimony to lawmakers in the weeks ahead. She has met regularly with Republicans and Democrats behind closed doors in the year since she became the central bank’s chief. Fed leaders also attend party lunches from time to time in Congress.

I believe it was the Democratic Senators who invited her to lunch.

 

[Occam's Banana]

If you have nothing to hide, Yellen, then why the "secret" meeting [...]

Secrecy is critical in maintaining the Fed's "independence."

Without secrecy, people would find out stuff about the Fed - stuff to which they might object and about which they might try to do something.

And that would interfere with the Fed's "independence" ...