I highly suggest that you read it.
Because Ben Bernanke’s public persona is as mild as milk, the transformation in American governance in which he has participated is imperfectly understood and hence insufficiently deplored. The change is dramatized by two recent developments.
One was the campaigning by several constituencies for and against what supposedly were the two leading candidates — Larry Summers and Janet Yellen — to replace Bernanke as chairman of the Federal Reserve. The Fed can no longer be considered separated from politics.
The Fed has become the model of applied progressivism, under which power flows to clever regulators who operate independent of political control. The Fed is, however, a creation of Congress, which may not forever refrain from putting a bridle and snaffle on a Fed that increasingly allocates credit, wealth and opportunity.
There are some of us, who believe that we should end the fed and go back to the gold standard. I happen to be one of those people.