Fed’s Powell Explains Why A Return To The Gold Standard Would Be So Damaging To The Economy

• “If you assigned us [to] stabilize the dollar price of gold, monetary policy could do that, but the other things would fluctuate, and we wouldn’t care,” Powell says.

• Though Powell distanced himself from the Fed nomination process, his comments put him at odds with the writings of Judy Shelton, a current nominee to the central bank.

• Federal Reserve Chairman Jerome Powell told Congress on Wednesday that he doesn’t think a return to the gold standard in the U.S. would be a good idea.

Full article via CNBC here

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