#1 Janet Yellen and Monetary Statism by Eglman 14.11.2013 13:24


By: Daniel Horowitz

There is perhaps no entity of government that has more autonomous power to centrally plan our economy than the Federal Reserve. The endless monetary stimulus, artificially low interest rates, and juicing up the stock market, has devalued the dollar, inflated commodities, distorted the housing market, enabled the growth of government (with cheap borrowing), and redistributed wealth from savers to borrowers. With current Chairman Ben Bernanke stepping down, Republicans must utilize the confirmation process of Janet Yellen to focus attention on the deleterious policies of the Fed.

Today, the Senate Banking Committee will hold its first confirmation hearing on the nomination of Janet Yellen to be the next Chairman of the Board of Governors of the Federal Reserve. As Vice Chair of the Fed, Yellen has been even more zealous in pushing monetary stimulus and interventionist policies than Bernanke. Yet, so many Republicans, including some egg heads at the think tanks (along with K Street), have no problem with a group of unelected bureaucrats led by Yellen distorting the economy to benefit Wall Street and the expansion of government over the rest of the country.


Read more:http://www.redstate.com/2013/11/14/janet...netary-statism/

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