Former Reagan budget director David Stockman criticizes the Federal Reserve as a "rogue institution" needing reform and opposes its reliance on volatile economic data and micromanaging the economy.

David Stockman, former budget director to President Ronald Reagan, has criticized the Federal Reserve as a "rogue institution" that requires reform on Newsmax's "Wake Up America." Stockman argues that the Fed Chairman, Jay Powell, should not base decisions on unreliable, frequently revised economic data, and that the Fed should not attempt to micromanage the economy based on week-to-week or month-to-month inflation and employment rates.

August 25, 2024
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