Most Republicans have expressed concern about the Federal Reserve’s latest round of easing. But there isn’t widespread agreement about what they should do about it, The Hill reports
. The worry is that the Fed’s move to buy $600 billion of Treasury bonds will depress the dollar and spark inflation.
Some Republicans want to shift the Fed’s responsibilities to focus only on inflation and to stop trying to foster maximum employment. Others worry that political interference on Capitol Hill will comprise the central bank’s independence and thus its ability to produce wise policy decisions.
“This is not a particularly good time for legislators to be suggesting changes in the Fed’s approach,” a monetary policy expert at a conservative think tank tells The Hill. “Everyone thinks they can suddenly become a monetary policy expert.”
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