Reaction Radio

Dirk Ehnts submits:

In today’s developed world there exists a consensus among orthodox and many non-orthodox economists that central banks should be independent. Government should not be allowed to control the ‘printing press’ since it would misuse its power by printing money, spending it and thereby causing inflation. This is why David Leonhardt at the NYT writes:

A once-marginal proposal — from Representative Ron Paul, the Texas Republican — that would give Congress the power to review interest rate decisions recently passed the House and will soon be considered by the Senate.

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