The Pitch – Is it time to take some of the power away from the Fed?

August 7, 2009 – 12:14 pm – No Comment

Is it time for the Fed to relinquish some of its power?

Question:

The United States Federal Reserve has a lot of power when it comes to the economy. They oversee more than just the money the country has, but other things too like consumer issues. So, is it time for the Fed to give up some of the control?

Answer:

I think the Fed needs some of the power that it has. I don’t think it needs to be able to move the interest rates without a longer bureaucratic process simply because the movement of the economy is settled on the shoulders of the Fed.

Overall, the Federal Reserve does good things for the economy and typically works in the interest of the people. However, the economy is more than just interest rates.

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