The Domestic Monetary Policy and Technology Subcommittee, chaired by Rep. Ron Paul, will hold a hearing on Tuesday to examine the Federal Reserve’s assistance to the Eurozone and the impact that assistance has on the U.S. monetary system and the dollar.
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New York Federal Reserve Chairman and CEO William Dudley and Steven B. Kamin, the Federal Reserve’s director of international finance, will appear before the Subcommittee to describe all the assistance provided by the Federal Reserve to mitigate the financial crisis in Europe as well as the outcome of this assistance on the financial markets and the domestic monetary system.
“The Federal Reserve has been creating money out of thin air for 40 years now,” Chairman Paul stated, “and they’ve ramped up the printing presses during these five years of crisis—all in the name of economic stability.
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