bobbyw24
02-01-2011, 11:31 AM
Congressman Ron Paul doesn't think we're going to get real reform at the Fed until there's a crisis that forces change in U.S. monetary policy.
"I think we'll end up with a real crisis and then they'll have to stop, think about it, and have a reform," of Fed policy, he said.
As new Chairman of the House Subcommittee on Monetary Policy, Congressman Paul sees informing the public of the Fed's actions as priority number one. He's being doing that for sometime, but now has a more substantial platform to speak from.
One of Congressman Paul's immediate aims is to challenge what he believes is a gross misunderstanding of Fed policy when it comes to unemployment. He intends to interview Former Fed board governors on the topic at the subcommittees first meeting on February 9th.
"This will give us a chance to make the point that just giving the Federal Reserve a mandate of high employment is not quite so simple and they're the culprits in creating the unemployment and they do nothing to prevent the unemployment," he said.
In the full interview, the Congressman's full thoughts on Fed Chairman Bernanke, on how inflation is being misrepresented in U.S. statistics, and what he expects to find if his audit the Fed bill is passed.
Full transcript follows, key points bolded for your convenience:
http://www.businessinsider.com/ron-paul-interview-2011-2#ixzz1CjI8D5g3
"I think we'll end up with a real crisis and then they'll have to stop, think about it, and have a reform," of Fed policy, he said.
As new Chairman of the House Subcommittee on Monetary Policy, Congressman Paul sees informing the public of the Fed's actions as priority number one. He's being doing that for sometime, but now has a more substantial platform to speak from.
One of Congressman Paul's immediate aims is to challenge what he believes is a gross misunderstanding of Fed policy when it comes to unemployment. He intends to interview Former Fed board governors on the topic at the subcommittees first meeting on February 9th.
"This will give us a chance to make the point that just giving the Federal Reserve a mandate of high employment is not quite so simple and they're the culprits in creating the unemployment and they do nothing to prevent the unemployment," he said.
In the full interview, the Congressman's full thoughts on Fed Chairman Bernanke, on how inflation is being misrepresented in U.S. statistics, and what he expects to find if his audit the Fed bill is passed.
Full transcript follows, key points bolded for your convenience:
http://www.businessinsider.com/ron-paul-interview-2011-2#ixzz1CjI8D5g3