Finally, Congress is starting to wonder about the “Federal Reserve”
On June 28th 2017, the United States Congress held a hearing titled: “The Federal Reserve’s Impact on Main Street, Retirees and Savings.” If you haven’t watched it yet, we highly recommend doing so.
We followed the live feed closely here at PeakProsperity.com (as this topic is a major focus of ours) and were extremely and pleasantly surprised that most of the experts invited to provide testimony expressed views that closely mirror our own. They were critical of much of what the Federal Reserve has done over the past decade, explaining that its policies have badly hurt “regular Americans” while vastly enriching big corporations and the privileged elite.
Joining us for today’s podcast is Alex J. Pollock, one of the experts who participated on that Congressional panel. Pollock is a Distinguished Senior Fellow with the R Street Institute, a non-profit, non-partisan public policy think tank based in Washington, D.C.. He also serves as a Director of the CME Group and is the author of Boom & Bust: Financial Cycles and Human Prosperity (AEI Press, 2010).
In this discussion, Pollock details out his assessments of the Fed’s major transgressions against the interests of the general public. But perhaps more interestingly, he shares his observations from the hearing and how it struck him that many of the members of Congress that convened it appear to be growing increasingly concerned about the Fed’s lack of accountability, as well as its potential fallibility. …