Time To Rein in a Runaway Federal Reserve That Took Congress for Granted

Juvenal put it best when he asked, who will guard the guardians.

AP/J. Scott Applewhite
The Federal Reserve at Washington in 2020. AP/J. Scott Applewhite

The ancient Roman poet, Juvenal, posed the incisive question that must be applied to all structures of power and authority, “Sed quis custodiet ipsos custodes?” Who will guard the guardians?  Let us apply Juvenal’s question to the Federal Reserve.

The Federal Reserve endlessly repeats that it ought to be “independent.” If it is independent, though, who will guard our central bank? The Constitution grants that power —  to “coin Money, and regulate the Value thereof, and of foreign coin” — to the Congress.

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