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Congressional control of the fed and monetary policy

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Ron Paul (and his son, for that matter) has advocated for congressional control of the Fed and monetary policy for years. One of the pillars of his argument holds that elected officials should be in charge of monetary policy, not appointed individuals (as is currently done). Compare two scenarios: one where the Fed is operated by appointed officials (as it is now and always has been) and one where the officials are elected by the public every four years. Discuss the short-term and long-term ramifications of each scenario. Keep your answer under one and a half pages.

Reference no: EM131188840

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