Not at all sir, I would have the fed abolished completely.
Do you know where we might be able to find his actual record while he was on the board. I’d like to trust you but you know the old adage “trust but verify”.
First of all, I love all these “abolish the Fed altogether” folks. I would abolish liberalism too, but I don’t have the authority. Do you have the authority to abolish the Fed or know who does? And why haven’t they done it? Reality is reality.
On the other: Cain served 95-96 on the KC Fed. You can find that anywhere. The Fed’s interest rates were all above 8.25% during that time and as high as 8.75%. That was about as high as any time during the Greenspan era. Cain’s influence, and I don’t know how much he had, would have been towards a king dollar policy and totally against the dual mandate (the second part of which is the inflationary part).
The Fed exists. Even Superman Ron Paul hasn’t stopped it and he’s been trying for 400 years or so. Given that, I would rather conservatives be on the board than liberals.