Sen. Rand Paul, R-Ky., on Wednesday reiterated his longstanding call for an audit of the Federal Reserve in an all-capital-letters tweet that echoed similar concerns by President Donald Trump.
"IT SHOULD BE GETTING AUDITED," the second-term senator said in his post, which included a Trump all-caps tweet challenging Fed monetary policies.
Paul, 56, has long called for the Fed to be audited, and in January reintroduced legislation to have the General Accounting Office examine the central bank.
In 2016, the Senate passed Paul's bill — and the House has twice approved the legislation, but the White House and the Fed have opposed any audit.
Rand Paul's father, former Rep. Ron Paul, R-Texas, who later became a Libertarian, first proposed legislation in 1999 to eliminate the Fed and later to audit the agency after the 2008 banking crisis. The bills have stalled in Congress.
President Trump on Wednesday continued his attack on the Fed over the recent stock-market turmoil, telling reporters before leaving for a speech to veterans in Kentucky: "The Federal Reserve has let us down.
"They missed the call. They raised it too fast," he said. "Too high."
Though the Fed cut interest rates last month by a quarter of a percentage point, the first time since 2008, the president has repeatedly slammed it for hiking rates by a quarter point seven times in 2017 and 2018.
"They did quantitative tightening," the president told reporters Wednesday. "They shouldn't have done the tightening — and they should not have raised it.
"We could have had some raises," Trump said, "but nothing like they did."
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