GOP presidential candidate Donald Trump said this week that the Federal Reserve is keeping interest rates low to keep the economy alfloat. "They're keeping the rates artificially low so that Obama can go out and play golf after January and say that he did a good job," Trump said Tuesday.
Former Congressman and longtime critic of Fed policies Ron Paul said Trump's view was much closer to his than Hillary Clinton's in an interview with Fox News Channel's Neil Cavuto on Wednesday. "I find Hillary astounding," Paul said. "For her to say that we shouldn't comment on the Fed -- it is off limits, don't talk about it."
"I think the members of the secret society of the Federal Reserve will love Hillary," Paul said. "Because you're not allowed to say anything. And yet, as you know, I consider the Federal Reserve and the monetizing of debt as being very important. Because I think the next step that we have, not only the desire to know what the Fed is doing --And Donald Trump wants to audit the Fed-- I think the connection has to be known that the deficit can dealt with by the Federal Reserve, they just have to be prohibited from monetizing debt."
"When I was in Congress, the Chairman of the Federal Reserve always blamed the Congress for spending too much money, but the Fed accomodates them by doing what? Keeping interest rates low!"
Ron Paul has not endorsed Trump for president saying that all three parties represent bad choices. He jokingly said earlier this year that he is waiting for Trump to become a libertarian before endorsing him.