Donald Trump hasn’t taken a day off since he won the election and today isn’t different.
Not only did Donald Trump respond immediately to the Ohio State University attack, but he also made a big move towards reforming the Federal Reserve today.
According to Business Insider:
On Monday, Trump will meet with John Allison, the former CEO of the bank BB&T and of the libertarian think tank the Cato Institute.
While running the the Cato Institute, Allison wrote a paper in support of abolishing the Fed.
“I would get rid of the Federal Reserve because the volatility in the economy is primarily caused by the Fed,” Allison wrote in 2014 for the Cato Journal, a publication of the institute.
Allison said that simply allowing the market to regulate itself would be preferable to the Fed harming the stability of the financial system.
“When the Fed is radically changing the money supply, distorting interest rates, and over-regulating the financial sector, it makes rational economic calculation difficult,” Allison wrote. “Markets do form bubbles, but the Fed makes them worse.”
Allison is right that the Federal Reserve’s ability to fluctuate the amount of cash flow at their discretion is a scary thought. This is a huge risk of causing inflation and throwing our economy into a downward spiral.
Whether Allison is tapped by Donald Trump to be Treasure Secretary, or not, Trump’s meeting with Allison shows that the Federal Reserve is in for a reform the make it better and not able to hurt our country.