As I passed through the Occupy Chico crowd today, I noticed several signs conveying the same basic message: End the Fed. Of all of the messages I've seen and heard surrounding the Occupy Chico and Occupy Wall Street crowd, I've found this one to be the most perplexing.Criticisms of the Fed are understandable, and given our current situation, very justified; but to want to end the Fed outright doesn't make much sense. Think Progress blogger, Matthew Yglesias, had a reader write into him with similar thoughts, wondering why people wanted to end the Fed, and requesting a "must read" list for anyone that wants to understand the importance of the Fed and monetary policy. I figured I'd piggyback on Yglesias' recommendations, and share them with you. A piece written by Yglesias, outlining the importance of the Fed, among other things. A piece by Paul Krugman outlining, in a very easy to understand way, what monetary policy is and how it works. Here's a piece, by Dean Baker, for those who shutter at the idea of a weaker dollar created by the actions of the Fed.
Anyways, I hope this helps to influence some people's thinking in regards to the Fed.
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