Tuesday, May 8, 2012 10:00 AM in 2128 Rayburn HOB
Live Stream Here (Lower left quadrant – ‘Live Webcasts’ link)
WASHINGTON – The Financial Services Subcommittee on Domestic Monetary Policy and Technology, chaired by Rep. Ron Paul, will hold a hearing on Tuesday to examine six legislative proposals that either reform or abolish the Federal Reserve System.
“More and more people are beginning to understand just how destructive the Federal Reserve’s monetary policy has been. I hope that this hearing will kick start a serious discussion on the need to rein in the Fed,” said Chairman Paul. “100 years is far too long for Congress to have taken a hands-off approach. The Fed continues to reward Wall Street banks while destroying the dollar’s purchasing power and driving up the cost of living for average Americans. This reckless behavior must come to an end.”
Calls for reforming various aspects of the Federal Reserve System have existed since its creation in 1913. However, with the onset of the financial crisis of 2008-2009 and during the prolonged recession, calls for reform have escalated.