Kentucky Senator Rand Paul has informed Senate leadership that he'll put a hold on the nomination of Janet Yellen for Federal Reserve chair unless his bill auditing the Fed is given a vote, according to a report from CNBC.
As Brett LoGiurato of Business Insider explains, a "hold" is an informal Senate procedure through which a senator makes clear that he or she opposes a nomination or bill reaching the floor.
While Paul has long expressed a desire to know more about the inner workings of the Federal Reserve, his proposed audit is supported across partisan lines. The AFL-CIO has come out in support of a Fed audit, while the Independent Senator Bernie Sanders has previously put forward an audit request of his own, too.
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