Vivek Ramaswamy wants to fight the Fed the wrong way

Source: Washington Post
by Ramesh Ponnuru

“Vivek Ramaswamy believes that the Federal Reserve is an oversized institution with too many objectives. By statute, it aims to produce moderate levels of unemployment, inflation and interest rates. He thinks it should, as he puts it on his website, ‘stabilize the dollar & nothing more.’ Ramaswamy, a businessman running for the Republican presidential nomination, is a rare exception to the rule that presidential candidates show not the slightest interest in monetary policy. He has a big, bold idea for how to change it. Unfortunately, it is one that demonstrates that neither adjective is a synonym for ‘beneficial.'” (09/11/23)