Ron Paul Statement on Federal Open Market Committee Meeting
SPRINGFIELD, Virginia - Today, Campaign for Liberty Chairman Ron Paul released the following statement on the Federal Open Market Committee’s decision to continue its bond-buying program:
“I am disappointed, but not surprised, that the Federal Reserve decided to hand the American people more of the same failed policies that caused and then perpetuated our current financial crisis. Chairman Bernanke may believe there is no inflation, but try telling that to seniors who are on a fixed income, students trying to save for college, and the millions of other Americans who are contending daily with rising prices.
“If the problem was the Fed not printing enough, and Congress not spending enough, why have the trillions of dollars in monetary stimulus only benefited big banks and corporations? Why are Americans paying higher prices each week at the grocery store?
“The truth is the Federal Reserve’s bond-buying program only benefits big bankers and politicians while hurting poor and middle class Americans. We can never hope to be a prosperous nation again until we realize the printing press is not the solution to our problems.
“The American people deserve a full accounting of what the Federal Reserve has been doing to our economy and our money, which is why Campaign for Liberty will continue to lead the fight to Audit the Fed.”