75% Favor Auditing The Fed
So much for
the ongoing secrecy of the nations independent central banking
system. A new Rasmussen Reports national telephone survey finds
that 75% of Americans favor auditing the Federal Reserve and making
the results available to the public.
Just nine percent
(9%) of adults think thats a bad idea and oppose it. Fifteen
percent (15%) arent sure.
Over half the members of the House now support a bill giving the
Government Accounting Office, Congress investigative agency,
the authorization to audit the books of the Federal Reserve Board.
the bill has grown now that the Obama administration is proposing
to give the Fed greater economic regulatory powers. The Fed which
sets U.S. monetary policy was created as an independent agency to
keep it free of politically-motivated interference.
Ben Bernanke in a town forum filmed on Sunday which is airing this
week on PBS stations said he is strongly opposed to the audit legislation.
I dont think the American people want Congress running
monetary policy, he said. Howard Rich addressed this issue
in a recent commentary and concluded it was important to locate
the trillions of dollars the Fed has spent over the
The new survey
finds that an overwhelming majority of Americans in every demographic
category including age, gender, political affiliation, race
and income disagree with Bernanke and favor auditing the
Fed to make its secretive deliberations public.
(52%) of Americans support Bernankes efforts to speak out
more publicly than his predecessors as Fed chairman, but his favorables
have gone down over the past month. A plurality (41%) think
the previous Fed chairman, Alan Greenspan, did a better job, too.
While the president
hopes to expand the Fed chairmans regulatory controls, 46%
of Americans say he already has too
much power over the economy.
expanding the Feds regulatory powers.
pledge that the Fed
will keep interest rates and inflation down, 54% of Americans
think interest rates will be higher a year from now, up 20 points
to drive the support for regularly auditing the Fed is the growing
unpopularity of Obamas economic initiatives to date. While
the Fed is an independent agency, just
20% of Americans believe the Fed chairman is truly independent of
the Obama administration. Sixty percent (60%) say his decision-making
is influence by the president.
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reprinted with permission from Rasmussen
© 2009 Rasmussen Reports