Press Releases
Rep. Massie Introduces Federal Reserve Board Abolition Act to "End the Fed"
Washington, D.C.-,
March 5, 2025
For Immediate Release "Americans have suffered under crippling inflation, and the Federal Reserve is to blame," said Rep. Massie. "During COVID, the Federal Reserve created trillions of dollars out of thin air and loaned it to the Treasury Department to enable unprecedented deficit spending. By monetizing the debt, the Federal Reserve devalued the dollar and enabled free money policies that caused high inflation.” "Monetizing debt is a closely coordinated effort between the Federal Reserve, Treasury Department, Congress, Big Banks, and Wall Street," Rep. Massie continued. "Through this process, retirees see their savings evaporate due to the actions of a central bank pursuing inflationary policies that benefit the wealthy and connected. If we really want to reduce inflation, the most effective policy is to end the Federal Reserve." “The Federal Reserve has not only failed to achieve its mandate, it has become an economic manipulator, directly contributing to the financial instability many Americans face today,” said Sen. Lee. “We need to protect our economic future, end the monetization of federal debt that fuels unchecked federal spending, and put American money on solid ground. We need to End the Fed.” The text of Rep. Massie's H.R. 1846 is available at this link. Original cosponsors of Rep. Massie's legislation include Rep. Andy Biggs (R-AZ), Rep. Lauren Boebert (R-CO), Rep. Eric Burlison (R-MO), Rep. Kat Cammack (R-FL), Rep. Michael Cloud (R-TX), Rep. Eli Crane (R-AZ), Rep. Marjorie Taylor Greene (R-GA), Rep. Harriet Hageman (R-WY), Rep. Scott Perry (R-PA), Rep. Chip Roy (R-TX). The Federal Reserve Board Abolition Act was first introduced by former Representative Ron Paul (R-TX) in 1999 and hasn't been reintroduced since 2013. In addition to introducing this legislation to "End the Fed," Rep. Massie has also introduced H.R. 24, the Federal Reserve Transparency Act of 2025 to audit the Federal Reserve. H.R. 24 was originally introduced by former Representative Ron Paul (R-TX) in 2009. ### |