Ex-Federal Reserve Insider Speaks Out
Fergus Hodgson, 13 November 2017 
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Danielle DiMartino Booth says the Federal Reserve is “infected with mission creep.” Since leaving in 2015, she has been vocal in her criticism of the overly powerful, parasitic, and bureaucratic central bank, as explained in her book, Fed Up: An Insider’s Take on Why the Federal Reserve Is Bad for America.
She points out that there are 800 PhD economists employed by the Fed, most doing nothing of use to the organization or the nation’s populace. Further, the Fed is on a fool’s errand, with the dual mandate of both low inflation and full employment. Further, the Fed now owns one-third of all mortgages in the United States and is essentially the nation’s credit allocator.
Danielle DiMartino Booth, author of Fed Up, says the Federal Reserve was created in an entirely different America and needs an overhaul and dramatic downsizing. (DMB)
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Fergus Hodgson is Gold Newsletter’s roving editor. Follow him on Twitter and Facebook.