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A Brief Comment on the Federal Reserve

Excerpt from The Congressional Record, February 1, 1995
U.S. Representative James Traficant (D-Ohio)

REP. TRAFICANT :  Mr. Speaker, in America the sun shines in from the PTA to the Halls of Congress. The American people have a front row seat.

But when it comes to the Federal Reserve Board, the American people cannot buy a seat in the peanut gallery. Unbelievable. At this very moment the Fed behind closed doors is deciding whether or not to raise our interest rates. And the Fed says, "Look, our business is too important for the American people to understand and what the American people don't know won't hurt them."

Unbelievable.

Mr. Speaker, while Congress cannot go to the bathroom without a camera team, the Federal Reserve Board conducts their own business and Congress waits for Alan Greenspan to come out of some closed door with either thumbs up or thumbs down.

Mr. Speaker, I say it is very simple: Alan Greenspan is giving America the finger and Congress does not even know why.