You don’t want politicians directly in charge of the central bank because of the temptation to print money and create a short-term inflationary boom. Interest rates are low, and the Federal Reserve is expected to cut the Fed Funds rate a few times this year. Trump should back off, since his Fed-bashing does not increase the chance they will act.
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That has always been the commonly accepted line but it just does not wash. The Fed is nothing but a big banker scam. No one knows what they are doing except, as I understand it, they charge the U.S. interest on loans for money that is comes from the Treasury. They never have been audited. Ron Paul has been onto these crooks for decades, but no one seems to care. It’s similar to the rip off by foreign governments on trade that Trump is trying to straighten out. Believe Trump is on to these SOBs. They either reform or else. The ‘else’ with regard to the Fed is to do away with them completely.
And any profit they earn, including the interest they collect, goes right back into the US Treasury.