Thursday, February 3, 2011

Oh - That Ron Paul.... He'll Be Asking The Fed Some Very Pointed Questions

You gotta love Congressman Ron Paul...
Chairman of the Domestic Monetary Policy and Technology Subcommittee, Ron Paul, Announces Subcommittee Hearing On The Federal Reserve’s Impact on Unemployment

He wants to know why after all the trillions the Fed has meted out - how come unemployment is still sky high?
“I’m very pleased to hold our first subcommittee hearing in the new Congress on a topic that could not be more critical, namely unemployment. Despite enormous amounts of monetary and credit expansion by the Federal Reserve in recent years, the nation’s unemployment picture remains bleak. While many focus on the impact of fiscal policies on employment, the effect of monetary policy often goes unexamined. In my view we are now experiencing the bust that inevitably results from the misallocation of capital and human resources in a period of artificially cheap credit. It is important to understand the Federal Reserve’s role in creating today’s unemployment crisis, while also highlighting that high unemployment and low economic growth can persist even in the face of tremendous monetary inflation.”

This hearing is entitled "Can Monetary Policy Really Create Jobs?" and its aim is to focus on the Federal Reserve’s recent actions for pouring more money into the economy and the likelihood those actions will reduce unemployment, and the critical role of the private sector in job creation.

This should be quite interesting.
Makes you want to grab some popcorn and sit in the front row!

Go get 'em Ron!
They got some 'splainin to do!