Ron Paul used the fall in purchasing power since the founding of the Fed to argue that the central bank had hurt regular Americans. Fed economist David Andolfatto disagrees, but Bob pushes back.

Mentioned in the Episode and Other Links of Interest:

• The YouTube version of this interview
• David Andolfatto critiques Ron Paul’s argument against the Fed
• Bob’s rebuttal to Andolfatto
• “Has the Fed Been a Failure?” by White et al
• Bob’s forthcoming book on Understanding Money Mechanics

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