Issue Position: Reform the Federal Reserve

Issue Position

The Federal Reserve has become a government outside the government with enormous powers over our economy totally unaccountable to the people. The Federal Reserve must be audited and reformed so that its sole mission is to keep the value of the dollar constant. The Federal Reserve has been purchasing an enormous amount of the new national debt issued each year and its balance sheet needs to be greatly reduced. The artificially low interest rates for over eight long years now have robbed small savers, particularly our senior citizens, of hundreds of millions of dollars in interest income on savings accounts, money market accounts, CDs, and other type vehicles where the average American keeps his or her savings. This has, in effect, amounted to an enormous tax increase on the middle class.

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