WASHINGTON – Republicans on the House Energy and Commerce Committee, led by U.S. Rep. Joe Barton, R-Texas, today sent a letter to Federal Reserve Chairman Ben Bernanke questioning why the Federal Reserve is supplying $30 billion in new lines of credit to foreign central banks.

“Although these loans are meant to be short-term, the reality is that many of these countries may not be able to repay these loans for decades, if ever,” the Republicans wrote. “Meanwhile, the risks to the United States include further devaluation of the dollar and a surge of inflation, including rising prices on food, energy and other essentials of daily life for American families.”

The lawmakers asked Bernanke seven questions, including which countries the Federal Reserve has made loans to, by what authority it made those loans, and the criteria for issuance of those loans.

A copy of the letter can be found here.