Republican Senator Paul asks watchdog to probe Fed lobbying

U.S. Republican presidential candidate Rand Paul speaks at the Growth and Opportunity Party at the Iowa State Fairgrounds in Des Moines, Iowa(Reuters) – Senator Rand Paul, a Republican presidential hopeful, on Tuesday asked the Federal Reserve’s inspector general how much money the agency spends on public relations and lobbying, saying he thought the Fed was trying to avoid transparency. Paul, who wants the central bank to undergo strict government audits, said in the letter that Fed officials were lobbying “against legislation pending before Congress to bring greater transparency and accountability to the Federal Reserve.” (Reporting by Emily Stephenson in Milwaukee; Editing by Mohammad Zargham)

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