Are there people within the Fed who want it abolished?

Miscellaneous General
1

There’s this guy named Thomas M. Hoenig who seems like he’d make a good chairman, and he seems anti-Bernanke. A friend of mine who wants to End the Fed thinks he should replace Bernanke. Could that mean Hoenig is anti-Fed?

It seems like the people in the Fed would have enough econ knowledge to know that centralized banking hurts the economy, so I was thinking there was a possibility there were people within the Fed who want to crash it.

After all, the people in the Fed aren’t getting rich, they’re just making the commercial banks rich, if and only if I’m not mistaken.

2

From where I stand that just means this guy wants Bernanke’s job and power.

3

Hoenig was the only member of the FOMC to go on record voting against QE2

4

Hopefully when you ask this again in 2012 we’ll be able to say Walter Block.

5

We’re stuck with Bernanke until 2014. By then all the king’s horses and all the king’s men. You know the rest of that story. Hoenig doesn’t want to abolish the Fed although he would have been a better chairman than Ben and he’s a better driver than Mr. Magoo.