Ron Paul, who has written books and bills calling to “End the Fed” finds himself as the new head on the Domestic Monetary Policy Subcommittee.
CBS News reports:
Republican Rep. Ron Paul of Texas, one of the most outspoken critics of the Federal Reserve, will lead a congressional panel next year with oversight over the central bank.
Paul, who wrote a book entitled “End the Fed,” told Bloomberg Television in an interview this morning that he will “not really, not right up front” push for an end to the Fed.
“But obviously that’s the implication,” he added. Paul said he will first focus on oversight.
In a Bloomberg report, Baucus had this to say:
House Financial Services chairman-elect Spencer Bachus, an Alabama Republican, selected Paul, 75, to lead the panel’s domestic monetary policy subcommittee when their party takes the House majority next month, the committee chairman said today.
“This is the leadership team that crafted the first comprehensive financial reform bill to put an end to the bailouts, wind down the taxpayer funding of Fannie Mae and Freddie Mac, and enforce a strong audit of the Federal Reserve,” Bachus said in a statement.
Paul, in an interview last week, said he plans a slate of hearings on U.S. monetary policy and will restart his push for a full audit of the Fed’s functions.
“We are ready to hit the ground running, and I look forward to continuing our work in the next Congress,” Bachus said.
This will certainly be interesting to follow!