Gary Johnson on The Federal ReserveSubmitted by GBAmerica on Sat, 11/03/2012 - 11:17
Gary Johnson on The Federal Reserve
Governor Johnson has stated that the actions of the Federal Reserve Bank should be more transparent and that it needs to be reviewed and managed effectively. Governor Johnson blames the Federal Reserve Bank for the housing bubble, but also credits them with mitigating that bust. He states that the American people deserve to know the extent to which the Fed has purchased private assets at home and abroad to help ensure that the value of the dollar is not deminished further.
Although he has called for more transparency, he does not feel that the Federal Reserve Bank should be abolished. He is also hesitant about regulating the bank as that would put politicians such as Barney Frank in charge of greater economic power.
Republican Liberty Caucus Interview
In January of 2010, Governor Johnson was interviewed by the Republican Liberty Caucus. He was asked about the federal reserve and monetary policy and states that the federal reserve is responsible for the housing bubble.
L: What is your position on the Fed and the gold standard?
J: The Federal Reserve deserves full responsibility for the housing bubble and as well deserves credit for mitigating the bust. Overriding that, the dollar is now worth a nickel. I understand the arguments for a free market in money and I support them. I shy away from the phrase “regulate the Fed” because I do not want Barney Frank deciding monetary policy. I wouldn’t say the Fed needs to be abolished. I understand the argument for a gold standard, though. The US government should be pursuing a strong dollar policy, which the Fed hasn’t done.
Interview was done in 2010! Supporting the continuation of the FED a game stopper for the Libertarian Candidate.