By Judy Shelton
Monetary policy is a subject often left to experts, but it affects everyone. It’s the ultimate pocketbook issue.
Whether you’re a borrower or saver, a tea party sympathizer or an Occupy Wall Street zealot, you have a personal stake in the economic outcome of decisions made by the Federal Reserve, our nation’s central bank.
The Fed determines interest rates, controls the money supply and regulates the banking system — providing the nation with “a safe, flexible and stable monetary and financial system,” as stated on its website.
Shelton is a senior fellow at the Atlas Economic Research Foundation and author of “Fixing the Dollar: Why U.S. Money Lost Its Integrity and How We Can Restore It.”