As a part of the much-hyped reboot of his presidential campaign, Gov. Ron DeSantis (R-FL) finally unveiled a first draft of his economic agenda, branded the 'Declaration of Economic Independence.' While fiscal conservatives may be disappointed by the plan's lack of detail in how the governor would…
As a part of the much-hyped reboot of his presidential campaign, Gov. Ron DeSantis finally unveiled a first draft of his economic agenda, branded the"Declaration of Economic Independence." While fiscal conservatives may be disappointed by the plan's lack of detail in how the governor would tackle the behemoth of federal spending, DeSantis did finally touch on his monetary policy.
"DeSantis will appoint a Chairman of the Federal Reserve who will focus on maintaining a stable dollar instead of the political pressures of the day," his campaign website announced."The Fed must focus on stable prices; it is not a social engineer and cannot be allowed to be an unaccountable economic central planner."But DeSantis's focus on the Federal Reserve essentially ends there.
Under existing law, the Fed is legally required to prioritize two goals: price stability and maximizing employment.
Two of the major GOP presidential hopefuls have pledged to abolish the dual mandate. Former Vice President Mike Pence, who first teased his willingness to abolish the Federal Reserve's dual mandate during an exclusive interview with the Washington Examiner, would replace the dual mandate with the sole mandate of stable interest rates.
On the positive front, DeSantis pledges to oppose the sort of bailouts granted to Silicon Valley Bank and mandate work requirements for welfare programs. But rather than address the real culprit hindering economic growth , DeSantis spends more time railing against the"elites."
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