re: #170 Pianobuff

That would be fine with me, too. Whether a formal audit is in order for the Fed or not, they seem to be immune to much criticism because nobody wants to agree with Ron Paul about anything.

I do think there sometimes an under-appreciation of Fed policy on the overall health of the economy. Either through direct actions or “tipping” statements.

For instance, I don’t think it was helpful (in fact it was harmful) to cut interest rates back to 1% in 2003 at the same time Greenspan was winking at ARM loans.

Of course, if you ask Greenspan now, it’s the fault of foreign countries that the sub-prime bubble came to be and Fed policy had nothing to do with it. I don’t believe that Fed wasn’t a big contributor.

Monetary policy is a dry and sometimes arcane topic, yet it is very impactful.

Yeah, I know. Ron Paul.

He’s a gynecologist- not an economist. And yes- I will continue to scrutinize all of his proposals because he’s a quack with an agenda, and takes money from nazis, so yeah- I don’t trust anything he says.