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The of the Federal Reserve is getting closer, folks! Will the lapdogs in the financial press pick up on this proposal for overhaul or termination of the Federal Reserve or simply ignore it being pressured or threatened by sponsors and Wall Street powers that be:

RESTORE CONGRESSIONAL MONETARY AUTHORITY ACT OF 2026

Section 1 — Short Title This Act may be cited as the “Restore Congressional Monetary Authority Act of 2026.” Section 2 — Congressional Findings Congress finds that: Article I, Section 8 of the Constitution grants Congress authority to borrow money on the credit of the United States and “to coin Money, regulate the Value thereof, and of foreign Coin.” Congress established the Federal Reserve System through the Federal Reserve Act of 1913. Congress retains legislative authority to amend, restructure, or repeal the statutory framework it created, subject to the Constitution and other applicable federal law. Any fundamental restructuring of the Federal Reserve System should preserve the stability of the United States dollar, banking […]

We need to come to terms of of the long standing need to abolish the FED and get down to business of the letting the free market decide all rates. After 113 years of inepitude, who is kidding who?

RISING COST OF FINANCIAL THE DEBT:

The Fed’s ¼-point (0.25 percentage point) rate increase today will ultimately raise the federal government’s interest expense—but not by 0.25% on the entire national debt immediately. The Fed raised its target to 3.75%–4.00%.

A useful back-of-the-envelope calculation is:

$40 trillion × 0.25% = $100 billion per year

So if the entire roughly $40 trillion federal debt were refinanced at rates exactly ¼ point higher, the additional annual interest cost would be approximately $100 billion.

But the actual near-term increase is much smaller because much of the debt is locked into existing Treasury notes and bonds. The higher cost gradually works its way into […]