Thursday, December 3, 2009

Audit The Fed : Response from Congressman

I received the following response for my letter about auditing the Fed.

November 30, 2009

Dear Abhay,

Thank you for contacting me in support of H.R. 1207, the Federal Reserve Transparency Act of 2009. I appreciate learning your views, and I welcome your input.

Congress created the Federal Reserve System in 1913 to serve as the country's central bank. The Federal Reserve regulates the banking industry, provides services to banks, and also plays a central role in the nation's monetary policy. The Federal Reserve acts as an independent entity to minimize political influence on its decision making.

The Federal Reserve has played a significant role in our national response to the recession, and ensuring transparency at the Federal Reserve is an important objective. H.R. 1207 requires an audit of the Federal Reserve System, and the bill was referred to the House Committee on Financial Services, of which I am not a member. Should this legislation receive a vote by the House of Representatives, I will keep your opinion in mind.

Thank you again for expressing your views. Please do not hesitate to contact me if I can be of additional assistance. To learn about other issues that I am working on in Congress, I encourage you to visit my website at


Jerry McNerney
Member of Congress

Please do not reply to this message as the mailbox is unattended.
If you wish to contact me again, please visit my website at

Maybe this is a token and standard response. But hey, at least they listen. They may completely ignore it later, but I must say that I was pleased with the response.

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