The Federal Reserve is a Necessary Evil

Recently, Janet Yellen, the Federal Reserve Chairwoman, testified to the House Financial Services Committee.  In the process, she made some minor headlines by quibbling with Republicans on the Fed’s performance.

Without a doubt, many of my fellow classical liberals greeted these headlines with disdain over the fact that the Federal Reserve exists at all. And I don’t blame them. The reasoning behind the “end the fed” movement is well founded.

But I believe ending the fed would be a misguided policy given our current situation. Continue reading “The Federal Reserve is a Necessary Evil”

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