Rand Paul to place hold on Fed chair nominee

Rand Paul to place hold on Fed chair nominee

Sen. Rand Paul (R-KY) has informed Majority Leader Harry Reid (D-NV) of his intention to place a hold on Federal Reserve chair nominee, Dr. Janet Yellen, until the chamber votes on S. 209, the Federal Reserve Transparency Act.

“I am writing to convey my objection to floor consideration of the nomination of Dr. Janet Yellen to Chair the Board of Governors of the Federal Reserve without also considering legislation to bring much-needed transparency to the Fed,” wrote Paul in a letter to Reid, delivering on a threat he made last week.