Part 5/7:
The conversation shifted to whether the Department of Government Efficiency (Doge) could indeed have jurisdiction over auditing the Federal Reserve. While some believe that every government agency should undergo regular audits—mirroring practices in public companies—others argue that the Federal Reserve, often termed the "fourth branch of government," may need a different level of scrutiny due to its autonomy.
While the Government Accountability Office (GAO) is tasked with auditing certain aspects of the Federal Reserve, it is restricted from examining monetary policy decisions. Only internal audits conducted by the Fed’s own Inspector General provide an inside look, a situation critics say lacks transparency and thoroughness.