By Silla Brush - 05/07/10 02:43 AM EDT
Rep. Ron Paul (R-Texas) said Thursday that Sen. Bernie Sanders (I-Vt.) "sold out" on a measure to audit the Federal Reserve.
Sanders agreed to modify the measure in a way that requires audits of the Fed during the financial crisis but not of the bank's monetary policy.
On his Facebook page, Paul lashed out at Sanders. Paul is a longtime critic of the Fed, and pushed audit legislation in the House that drew more than 300 cosponsors.
"Bernie Sanders has sold out and sided with [Sen.] Chris Dodd to gut Audit the Fed in the Senate. His 'compromise' is what the administration and banking interests want," Paul wrote on Facebook.
Paul said transparency of the Fed's interest rate decisions are important.
The Federal Reserve and Obama administration had strongly opposed earlier drafts of the Senate amendment.
The central bank said the earlier version would have threatened the independence of monetary policy in the United States.