Federal Reserve Transparency Act of 2025

House Bill

H.R. 24

119th Congress

Federal Reserve Transparency Act of 2025

In Committee

Introduced:Jan 3, 2025

Primary Sponsor

Thomas Massie

Representative

Republican

KY-4

Cosponsors

46

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill directs GAO to complete an audit of the Federal Reserve within 12 months. It allows GAO to audit international transactions, monetary policy decisions, Federal Open Market Committee transactions, and internal communications among Fed officials.

Latest Action

Referred to the House Committee on Oversight and Government Reform.

AI Summary

Plain-English explanation of this bill

This bill directs GAO to complete an audit of the Federal Reserve within 12 months. It allows GAO to audit international transactions, monetary policy decisions, Federal Open Market Committee transactions, and internal communications among Fed officials.

Last updated: 1/5/2026

Official Summary

Congressional Research Service summary

Federal Reserve Transparency Act of 2025This bill directs the Government Accountability Office (GAO) to complete, within 12 months, an audit of the Federal Reserve Board and Federal Reserve banks. In addition, the bill allows the GAO to audit the Federal Reserve Board and Federal Reserve banks with respect to (1) international financial transactions; (2) deliberations, decisions, or actions on monetary policy matters; (3) transactions made under the direction of the Federal Open Market Committee; and (4) discussions or communications among Federal Reserve officers, board members, and employees regarding any of these matters.

Key Points

Main provisions of the bill

Requires GAO audit of Federal Reserve within 12 months
Allows audit of international financial transactions
Covers monetary policy deliberations and decisions
Includes Federal Open Market Committee actions
Opens internal Fed communications to audit

How This Impacts Americans

Potential effects on citizens and communities

The Federal Reserve would face unprecedented transparency requirements. Supporters say this brings accountability, while critics worry it could politicize monetary policy and affect Fed independence.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Related Subjects

Accounting and auditing

Bank accounts, deposits, capital

Congressional oversight

Federal Reserve System

Government studies and investigations

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

24, 119th Congress (2025). "Federal Reserve Transparency Act of 2025". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-24