These days, it's pretty hard for Republicans and Democrats to agree on pretty much anything. But a new poll from Bloomberg shows that they see eye-to-eye on one issue: their hatred of the Federal Reserve. While broad public discontent with the Fed isn't shocking news, the aggressive action Americans believe should be taken according to the poll shows they want big changes.
Joshua Zumbrun provides the numbers:
Americans across the political spectrum say the Fed shouldn't retain its current structure of independence. Asked if the central bank should be more accountable to Congress, left independent or abolished entirely, 39 percent said it should be held more accountable and 16 percent that it should be abolished. Only 37 percent favor the status quo.
In other words, a majority of Americans want changes. This goes beyond mere discontent. And this isn't really a political issue. According to the poll, 19% of independents, 16% of Republicans, 12% of Democrats, and 21% of Tea Partiers want the central bank abolished. That last statistic isn't terribly surprising, since one of the Tea Party's favorite politicians, Rep. Ron Paul (R-TX) is arguably the chief Fed opponent in Washington.
Yet the idea that the Fed should be abolished entirely is rather crazy. A complex economy needs a central bank. Some calls for reform could be more legitimate, however.