On Monday, March 5, 2018, US Senator Rand Paul announced his “Audit the Fed” bill, which would authorize the first-ever thorough audit of the Federal Reserve System. The nonpartisan bill would amend section 714b of Title 31 of the US Code to audit: transactions for or with a foreign central bank; deliberations, decisions or actions on monetary policy matters; and transactions made under the direction of the Federal Open Market Committee.