(New York Sun) Governor Romney’s latest statement in support of the independence of the Federal Reserve has brought a sharp warning from Congressman Ron Paul that the Constitution vests responsibility over monetary policy in the Congress?
The congressman’s riposte came in response to a statement by Mr. Romney — quoted Wednesday in the Christian Post — that, while the former Massachusetts governor supports an audit of the Federal Reserve, the Fed should maintain its independence from Congress.
Dr. Paul’s riposte suggests that even though Mr. Romney is preparing to run for president on a platform calling for an audit of Fed monetary policy and the establishment of a commission to look at a modern gold standard, it’s not yet clear whether Mr. Romney is on the same wavelength as the long-time campaigner for monetary reform.
