New Bill Aims to Disband the Federal Reserve, Citing Economic Instability

Congressman Thomas Massie has reintroduced a bill to abolish the Federal Reserve, blaming it for inflation and economic instability.

His proposal, H.R. 1846, aims to dismantle the Fed’s central banking system, including its Board of Governors and regional branches, ending a century of centralized monetary control.

Massie argues that the Fed’s actions, especially during the COVID-19 crisis, led to the devaluation of the dollar and inflation, burdening Americans.

Senator Mike Lee has introduced a similar bill in the Senate, seeking to curb the Fed’s economic influence. Meanwhile, Massie is pushing for a full audit of the Fed’s activities with his “Audit the Fed” bill, which has support from libertarians, conservatives, and crypto advocates who criticize the Fed’s lack of transparency.

The Fed is also dealing with internal changes, including the resignation of its Vice Chair, Michael Barr, further fueling concerns over its leadership. Trump, a vocal critic, is seeking to limit the Fed’s power, transferring authority to other agencies.

Elon Musk has also criticized the Fed’s size and inefficiency, with his Department of Government Efficiency pushing for a review of its operations. With reform efforts gaining traction, the future of the Federal Reserve is uncertain.