Rand Paul supports the prospect of abolishing the Fed, with a main reserve

Senator Rand Paul, R-Ky., Explained on Tuesday at Fox News Digital during an interview that he would support the abolition of the federal reserve system, with the main providents that the country ceases to engage in deficit spending and, instead, manages a balanced budget.

But the fiscal hawk and the son of former American representative Ron Paul, a famous criticism of the federal reserve, says that he does not provide that this will happen.

“I see the opposite,” he said, saying that many in the GOP that had been cared before “deficits under Biden, seem to worry less about the deficits under Trump”.

Sen Rand Paul: There are $ 186 billion in reasons why we have to audit the Fed

Senator Rand Paul, R-Ky., Chairman of the Senate Committee for Internal Security and Government Affairs, during a confirmation audience in Washington, DC, Wednesday, January 15, 2025. (Al Drago / Bloomberg via Getty Images)

“I frankly think that if the congress did not run from deficits, you could do without fed,” he said.

Although he added that a “exchange center” would need that with the Fed Out of the Picture, the market should be authorized to “fill this space” over time.

Paul believes that the free market – supply and demand – should dictate interest rates.

“Interest rates are a universal price,” he said, believing that they are probably “the most prolific price in the whole economy”.

Trump is concerned about how the Fed is managed more than the dismissal Powell, explains the deputy chief of staff

The last time the Federal Open Market Committee has decided to reduce the target range for the rate of federal funds was back in December, and President Donald Trump asked the Fed to go to rate drops.

But Paul compared the price requests to insist that meat is too expensive, and Trump should lower his price-the senator stressed that most people consider such an “absurd” as “consumer goods”, but for any reason, even the conservatives lose their minds with regard to interest rates, “he said.

The senator noted that he thought that “really what we want is a federal reserve which is less involved in the manipulation of interest rates”.

The federals have completely taken their eye on the price, “said the economist

Click here to obtain the Fox News app

Paul, who considered that there is probably not “a more powerful and secret organization throughout the government”, pushes a bill to audit the Fed.

THE proposed legislationWhich is also supported by some of the colleagues in the GOP of Paul, calls the US controller general to audit the Governors’ Council of the Federal Reserve system and the banks of the Federal Reserve.

He also pushes a measureWho has been co-screened by the left senator, Bernie Sanders, i-vt., entitled “End The Fed’s Big Bank Bailout Act”, which includes linguistic stimulation “, no federal reserve bank can pay benefits on the sales maintained in a federal reserve bank by or in the name of a deposit institution.”