Source: Campaign For Liberty
by Ron Paul
“Requiring the Fed to consult with the president regarding monetary policy would likely increase price inflation and dollar devaluation. Politicians usually like low interest rates because they associate low rates with economic growth. Politicians also want the Fed to keep rates low so the federal government can keep racking up huge amounts of debt. Without a central bank that is ready, willing, and able to monetize the federal debt, the welfare-warfare state would not exist. Despite the claims of Chairman Powell and other central bank apologists, the Fed has never been free of political pressure.” (11/11/24)