Danielle DiMartino Booth, Columnist

Rebuild the Fed From the Bottom Up

Simplify its mission, consolidate its regional banks and get rid of a bunch of its economists.

January 5, 2017 at 12:30 PM UTC

Danielle DiMartino Booth, a former adviser to the president of the Dallas Fed, is the author of "Fed Up: An Insider's Take on Why the Federal Reserve Is Bad for America," and founder of Quill Intelligence.

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The presidency of Donald Trump will present the opportunity to reshape the Federal Reserve from the outside in.

Though many proposals have been floated in recent years, the call to eradicate the Fed altogether is neither reasonable nor wise. That would only deny the risks inherent in globalized financial markets, leaving the U.S. economy open to attack. At the same time, simply auditing the Fed’s monetary policy-making methodologies also comes up short.