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Jerry Bowyer: Fire the Fed

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The president’s mad at Fed chair Jerome Powell for not cutting interest rates fast enough.

But here’s a better idea: Don’t fire the chairman. Fire the Fed.

Why should a handful of unelected economists decide the price of money for 330 million people? That’s not a free market. That’s central planning with a necktie. Let the market set interest rates. Let lenders and borrowers negotiate like grownups. The Fed’s track record - boom, bust, repeat.

It’s time to break the cycle. If you trust the market to price, gas, groceries, and gold, why not credit? It’s time to ask this question seriously.

Why are we still outsourcing our economy to a committee? It’s time to bring interest rates back to the people.

The issue isn’t that Jerome Powell is in charge of the Fed. The issue is that the Fed is in charge of our interest rates.

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