- - Tuesday, March 27, 2018

ANALYSIS/OPINION:

Under the Obama administration the Federal Reserve determined that the economy had a real risk of declining — so it greatly lowered interest rates and decided to print $3 trillion in U.S. currency. If the Fed had not done this and the forecast had come true, the prior administration would have been forced to improve its economic program or face a real economic problem.

Because both presidents John F. Kennedy and Ronald Reagan proved there was a good way to stimulate the economy without the Fed program, the Obama administration knew of alternative programs that worked. However, the Fed went ahead with the program, greatly diluting our currency without seeking a public opinion.

Now the Fed wants to return to a more normal economic policy. Now is not the time. The economy has already responded well to a pro-business Trump government. The Obama government, along with the Fed program, more than doubled our federal debt. Giving appropriate time for the tax reduction to respond — as it did for Mr. Kennedy and Mr. Reagan — will mean a great improvement in government tax revenues, and make reduction of our debt that much easier. At the same time it will create a great deal more job opportunities.

GERALD A. DAVIS

Everett, Wash.


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