The Fed audit argument doesn't hold water

Mishkin hates the idea of an audit of the Fed. Somehow they say this threatens the independence of the Fed. Supposedly this is a slippery slope.

His argument just doesn't hold water.

There are strains on the Fed's balance sheet, and the market already sees the strains.

Why do you think the world is p*ssing on the dollar and buying gold?

Audit the Fed!!