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Ron Paul to be appointed Committee Chair overseeing Federal Reserve

Fmr. Libertarian Party presidential candidate handed top post by GOP

From Eric Dondero:

In what can only be described as a huge victory for the libertarian wing of the GOP, word is leaking out of Washington that Congressman Ron
Paul of Texas is about to be appointed Chairman of the Financial
Services subcommittee. The committee has near complete oversight of the
Federal Reserve.

From The Hill “Paul poised to take on Fed”:

Speculation has swirled that Paul would immediately use his subpoena powers as chairman of the subcommittee to compel testimony
from Federal Reserve officials…

Paul said he wants to foster a debate about the Fed’s role in the American economy and begin the push for greater congressional oversight.
He said he wants to use the subcommittee to “discuss the relationship
of monetary policy to the business cycle and particularly how they
create the booms and the busts” in the economy.

A slew of Republican leaders, ranging from former Alaska Gov. Sarah Palin to Speaker-designate John Boehner (R-Ohio), have criticized the
Fed’s decision to buy $600 billion worth of Treasury bonds in an attempt
to boost the economy. Republican critics argue the action, which
essentially amounts to printing money, will only lead to a less valuable
dollar and higher inflation.

It is Boehner and soon-to-be House Majority leader Rep. Eric Cantor who have final say in the appointment. Sources indicate that the
appointment could come early next week.

Standard Ron Paul disclaimer: This website is a huge fan of Ron Paul on domestic matters, but disagree strongly with his
non-interventionist foreign policy.