H.R. 24
Federal Reserve Transparency Act of 2025
In Plain Language
This bill requires the Government Accountability Office to audit the Federal Reserve within 12 months. The audit can examine the Federal Reserve's international financial transactions, decisions about monetary policy, and internal communications about these topics. Currently, the Federal Reserve has some restrictions on what parts of its operations can be audited by outside agencies.
Official Congressional Research Service summary
Federal Reserve Transparency Act of 2025This bill directs the Government Accountability Office (GAO) to complete, within 12 months, an audit of the Federal Reserve Board and Federal Reserve banks. In addition, the bill allows the GAO to audit the Federal Reserve Board and Federal Reserve banks with respect to (1) international financial transactions; (2) deliberations, decisions, or actions on monetary policy matters; (3) transactions made under the direction of the Federal Open Market Committee; and (4) discussions or communications among Federal Reserve officers, board members, and employees regarding any of these matters.
Sponsor
Cosponsors
Latest action
Referred to the House Committee on Oversight and Government Reform.
Jan 3, 2025
Official source
Action history
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