Why “split the difference” ... and keep the FED? They’re failing miserably at their “mandate(s) because their interests (namely enriching their member banks) have nothing to do with maximum employment or low interest rates. The FED exists to asset strip the country while appeasing the politicians that use the FED to maintain and grow fiscal deficits in the name of vote buying programs. Neither the FED nor the Congress cares about the American people... we currently have 93M adults not working in this country , many that are working are working part time and those relying on interest income have been absolutely murdered with ZIRP which is soon to be NIRP...
You want the FED to “protect the dollar” ... that goes against their 102 year track record of eroding the dollar ... You expect them to change? that’s foolish.
+1
I was making a point...that the beginning of their dual mandate is when the phony pumping began.....and no, their track record is not 102 straight years of devaluing the dollar. That’s absurd. True, the dollar is only strong now because the rest of the world is a disaster....so the Fed does not operate in a vacuum....but the second mandate is the real killer. It is a t cross purposes with the first.