, Columnist
What Vivek Ramaswamy Doesn’t Understand About the Dollar
Trying to stabilize America’s currency by tying it to the price of commodities would have the opposite effect.
Talking up the dollar.
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Along with Vivek Ramaswamy’s rise in the polls should come greater scrutiny of his views on economics. In that spirit, I am here to report that — on monetary policy at least — the Republican presidential candidate does not yet have useful recommendations.
Ramaswamy has called for the US Federal Reserve to stabilize the dollar in relation to the price of commodities, rather than to the consumer price index. That formula is unlikely to bring monetary stability (or tame business cycles) in part because commodity prices themselves are notoriously unstable.