Sen. Rand Paul joins FNC's Tucker Carlson to discuss giving more Congressional scrutiny to the Federal Reserve's monetary policy. His father, Rep. Ron Paul, pushed bills to audit the Federal Reserve for decades.
"The main lobby against auditing the Fed is the Fed," Paul said. "We had 53 votes for it. 51 Republicans and two Democrats voted for it. Bernie Sanders voted for it. Tammy Baldwin and 51 out of 53 Republicans.
Tucker Carlson asked Paul what the major arguments against auditing the Federal Reserve would be, and he responded: "Some see that the Fed pays for this enormous debt and they love big government, and they know we have to have big debt for big government. and they have to pay for it, so they don't want to mess with the Fed because right now it is able to accommodate this enormous debt."
"The reason I want oversight is people get hurt in the downturn," Paul said. "So in 2008, when the housing market went bust, I blamed that on the Federal Reserve. We're right in the middle of another boom.Anybody seen the stock market lately? It is a boom, just like the real estate boom of 2008, and it will come to an end. I wish I knew exactly when, so I could give your viewers some investment advice, but it will end. There will be a correction. We have a huge bubble in the stock market created by easy money, free money, everybody has it. Free money! Federal Reserve will hand you bouquets of money. But there will be repercussions, and that will be the downturn. There will be a response or reaction to all of this extra money."