Saturday , December 14 2019
Home / David Stockman's Contra Corner / Hey, Congress, Shackle The Fed! It’s Gone Rogue

Hey, Congress, Shackle The Fed! It’s Gone Rogue

Summary:
The Fed made this momentous, inherently political, decision on its own, without the approval of the Congress.  It did not ask Congress for legislative approval and no hearings on this debatable proposal about the nature of money were held. https://www.realclearmarkets.com/articles/2019/11/20/congress_must_take_control_of_money_back_from_the_fed_103979.html?utm_source=rcp-today&utm_medium=email&utm_campaign=mailchimp-newsletter&mc_cid=6a927766e1&mc_eid=1510809f37

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The Fed made this momentous, inherently political, decision on its own, without the approval of the Congress.  It did not ask Congress for legislative approval and no hearings on this debatable proposal about the nature of money were held.

https://www.realclearmarkets.com/articles/2019/11/20/congress_must_take_control_of_money_back_from_the_fed_103979.html?utm_source=rcp-today&utm_medium=email&utm_campaign=mailchimp-newsletter&mc_cid=6a927766e1&mc_eid=1510809f37

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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