In the system we have the Fed acts as a governor on interest rates. Without the Central Bank you would allow the marketplace to set rates. With the fiscally irresponsible Congress and Executive Branches we tend to elect allowing the Marketplace to set rates would be suicidal.
Yes, it sounds great—“Get rid of the Fed”—….just make sure every asset you have has been converted to gold before it happens. Because the dollar would be destroyed. The resulting “panic” would make the Great Depression look like a good time.
The Fed sucks. But it is the cleanest dirty shirt in the pile.
You just admitted that printed fiat money, courtesy of the Federal Reserve, has enabled massively bloated government debt (and thus, decades of top-down neo-marxist social engineering), and destruction of our currency, without admitting it.
Trump and Bessant have some interesting ideas to keep kicking the debt can down the road, but it won't work forever.
Check but with Powell it’s as wretched as it gets.
His TDS steers him not logic or what’s best for the economy.
The left cares not who or what goes down as long as they gain control.