Federal Reserve Transparency Act of 2025

This bill requires a full, independent audit of the Federal Reserve’s Board and the 12 Federal Reserve Banks. The Government Accountability Office (GAO) must finish the audit within 12 months and then send a detailed report to Congress within 90 days, including findings and any recommendations for action. It also removes current limits on what the GAO can review at the Fed, opening the door to a more complete look at how the Fed works.

The audit may cover areas that were usually off-limits, such as international financial deals, decisions on interest rates and other monetary policy, actions directed by the Federal Open Market Committee (FOMC), and related communications among Fed officials.

• Who is affected: The Federal Reserve Board and the Federal Reserve Banks; Congress and the public who rely on their transparency.
• What changes: A full GAO audit is required, including areas that were previously restricted; the GAO will provide findings and recommendations to Congress .
• When: Audit must be completed within 12 months of the law taking effect; the report is due 90 days after the audit is finished.