Monetary Policy Hearings In the News

Reuters reports on Thursday's House Committee Monetary Policy Hearings:

Rep. Paul renews uphill push to abolish Fed

Reuters -- March 17, 2011

* Fed critic Paul renews push to eliminate central bank

* Paul says inflation hits lower-income groups hardest

* Experts before Paul panel urge return to gold standard

WASHINGTON, March 17 (Reuters) - Representative Ron Paul, a persistent critic of the Federal Reserve, on Thursday renewed his uphill fight to abolish the U.S. central bank, warning it is on track to create an inflation that will hit lower-income Americans especially hard.

The Texas lawmaker has long championed dismantling the Fed, but at a hearing on Thursday slammed its $600 billion bond buying program, which he said was creating inflation and undercutting the dollar. This week he introduced legislation abolishing the Fed.

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