Thomas Massie introduces bills to audit, abolish the Federal Reserve Fox News
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EconomistHughJohnsonreactstostocksrallyinginhopesofratecutsonYourWorld.
Rep.ThomasMassie,R-Ky.,hasintroducedlegislationthatseekstoendtheFederalReserve–whichhasoperatedasthenation’scentralbankingsystemsinceitwascreatedmorethan110yearsago.
H.R.8421,the FederalReserveBoardAbolitionAct,abolishes theBoardofGovernorsoftheFederalReserveanditsbanks.Italso repeals theFederal ReserveAct,the 1913 lawthatcreated theFederalReserveSystem.
Inannouncingthemove,MassiesaidAmericanswouldbebetteroffwithout“theFed”andblameditforrapidinflationanddevaluingthedollar.
USEMPLOYERSSCALEDBACKHIRINGINAPRIL.HOWTHATCOULDLETTHEFEDCUTINTERESTRATES
Rep.ThomasMassie,R-Ky.,hasintroducedlegislationthatseekstoendtheFederalReserve–whichhasoperatedasthenation’scentralbankingsystemsince1913.(AlDrago/BloombergviaGettyImages,left,ANDYJACOBSOHN/AFPviaGettyImages,bottomright,BrooksKraft/GettyImages,topright. )
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