The Missing Fed

Photo credit: Kurtis Garbutt via Flickr (CC BY 2.0)
Photo credit: Kurtis Garbutt via Flickr (CC BY 2.0)

The Federal Reserve is the most powerful unelected financial powerhouse in the world. Its impact on our economy and financial markets is staggering.

Yet this unaccountable institution and its role in our economy and government is missing from the presidential debate.

One has to wonder what the presidential candidates are afraid of. Perhaps pollsters are telling them to stay away from this issue. Perhaps pollsters are telling them that it is over the heads of voters.

Voters may hear about nuclear centrifuges in Iran or even the complex science of global warning, but in the minds of political consultants, people’s money is something they can’t understand. But how does one explain this issue missing from the scripts of debate commentators? With the Fed in the financial news every day, how do they miss this?

Perhaps this will change in the CNBC debate on October 28.

Meanwhile, check out this fantastic highlight video from APIA’s Jackson Hole Summit last month, the first time conservatives have challenged the Fed toe-to-toe. And learn how important the Fed is in our lives!

Steve Lonegan is the Director of Monetary Policy for American Principles in Action.