(Alexandria, VA) – This afternoon, National Taxpayers Union (NTU) President Pete Sepp, along with leading public policy groups, as well as academic experts and citizens, met with Federal Reserve Chairwoman Janet Yellen to propose critical examination of Fed policies through a new Monetary Commission, and stewardship of the U.S. Dollar that better protects taxpayers.
“Federal Reserve policy has an enormous impact on America’s taxpayers, whether through the stealth tax of inflation or enabling unaccountable and out-of-control government spending,” said NTU President Pete Sepp. “NTU is proud to give taxpayers a seat at the table on monetary policy considering it is they who ultimately back the Fed’s gambits.”
Throughout its 46-year history, NTU has advocated for more transparency and reform for the Federal Reserve System, most recently endorsing legislation to “Audit the Fed.”
The Federal Reserve has also enabled the rampant deficit spending and debt by taking on the Department of Treasury’s securities. This trend has led to our $18 trillion dollar national debt and federal budgets that remain continuously unbalanced – leaving taxpayers at great risk of further tax hikes, not to mention eating a huge portion of current revenues via interest payments on the debt.
Sepp concluded: “The cordial nature of this meeting along with the genuine concern and attention Chairwoman Yellen and her colleagues gave us is a hopeful sign for an elevated, thoughtful dialogue about monetary policy in the future."
In addition to NTU, representatives from the Heritage Foundation, Cato Institute, Atlas Foundation, 60 Plus Association, FreedomWorks, American Commitment, and Young Americans for Freedom attended the sit down which was organized by American Principles in Action.
National Taxpayers Union, “The Voice of America’s Taxpayers”, is a nonpartisan, nonprofit organization working for lower taxes, smaller government, and economic freedom at all levels. More information on NTU’s work is available at www.ntu.org.