Donald L. Kohn is a powerful man, as Vice-Chairman of the Board of Governors of the FED. He shouldn’t have this power. Nor should the FED have the power it has. Not under the U.S. Constitution. Not in a nation of free men and women. And not if we want a sound economy. The FED is coming under increasing attack. Kohn’s Nashville speech on April 18, 2009 attempts to defend the FED. He defends the FED with numerous myths. Kohn begins: "Our objective [sic] is to promote maximum sustainable employment and stable prices over time. These goals are enshrined in … Continue reading Myths of the Fed