If the Fed’s nominees were confirmed, could they change monetary policy?
- July 28, 2020
- Gary Richardson, economics, Marketplace, July 28, 2020 (Audio)
Judy Shelton has advocated for tying the value of the U.S. dollar to the price of gold, as it was before the Great Depression. Gary Richardson, professor of economics at the University of California, Irvine, said he’s not worried about Shelton getting the United States to return to the gold standard. “The concern is that someone who’s out there advocating that we should be on a gold standard doesn’t understand monetary policy and doesn’t understand the way the economies or the national or international financial systems function,” Richardson said. But he said because the Federal Reserve is designed with checks and balances, her influence would be limited.
For the full story, please visit https://www.marketplace.org/2020/07/28/shelton-waller-federal-reserve-board-of-governors-nominees-senate-republicans/.