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In 2012, my coauthors and I published an article* asking, “Has the Fed been a Failure,” that is, had it failed to meet its promise? The answer was “Yes.” I’m confident we proved it.
I’m also confident that any substitute the Trump administration comes up with will be even worse.
21.7. klo 23.01
🚨 BREAKING: Treasury Secretary Scott Bessent demands a THOROUGH REVIEW of the "ENTIRE Federal Reserve System."
YES. Audit the Fed.
"All these PhDs over there, I don't know what they do!"
"What we need to do is examine the entire Federal Reserve institution, and whether they have been successful!"
"There was fearmongering over tariffs, and thus far we have seen very little, if any inflation. We've had great inflation numbers."
@RandPaul has a bill to accomplish a full review with @SenRickScott. Get that passed and we can start receiving answers.
*
@greg_ip; @jasonfurman; @DavidBeckworth; @dandolfa @BrianCAlbrecht; @lawrencehwhite1 @Aarondklein @Frances_Coppola @vtg2 @AdamPosen (with apologies for botching the first two attempts at this post!)
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