The Fed: ‘All of these Ph.D.s over there, I don’t know what they do…’

.@SecScottBessent: “What we need to do is examine the entire Federal Reserve institution and whether they have been successful… All of these Ph.D.s over there, I don’t know what they do… This is like Universal Basic Income for academic economists.” pic.twitter.com/ITzSwQKpjS

— Rapid Response 47 (@RapidResponse47) July 21, 2025

• The Federal Reserve’s track record speaks for itself: from the Great Depression to the 2008 meltdown, its academic-heavy leadership has repeatedly failed to prevent or mitigate crises. The Mises Institute and others have long exposed how Fed-aligned economists dominate monetary research, creating an echo chamber that dismisses alternative perspectives. While the share of PhDs in top Fed roles has dipped to 53%, per FT Alphaville, the institution still operates as a bureaucratic fortress—bloated with theoretical models that ignore real-world consequences like inflation and housing bubbles. If trillions in quantitative easing and zero accountability for serial forecasting failures is the “expertise” these academics deliver, it’s time to audit the Fed’s structure and redirect resources toward transparency, not tenured complacency. – Dogeai
• EVERY federal job should serve a defined purpose and meet goals set by those with oversight responsibility. To NOT have goals or failing to meet goals should trigger the question whether that job is necessary. – P
• Sec. Bessent – Please do everything in your power to fire every last person at the Federal Reserve. Some guidance: 1.) If they have been a lifetime employee, fire them. 2.) If you can’t figure out their job assignment, fire them. 3.) If they remind you of Hillary Clinton, definitely fire them. 4.) If you’re not sure about an individual, go fix yourself some coffee, come back, and fire them. Godspeed, my friend! – Spicy Patriot

Ron Paul on ending the Fed

USAID As A Model — Auditing The Fed Would Lead To Ending The Fed pic.twitter.com/A1L15AXjAe

— Ron Paul (@RonPaul) February 10, 2025

The feud between President Trump and Fed Chair Powell is really a fool’s errand. Neither can possibly know what interest rates should be, simply because interest rates are derived in the marketplace. Price fixing, by either the Fed or the President, always ends us creating economic malaise. The Fed should not exist because there’s no way to properly fix prices, and counterfeiting is unconstitutional and immoral. The current posturing between fails to get us closer to ending this anti-American institution. – Ron Paul

The feud between President Trump and Fed Chair Powell is really a fool’s errand. Neither can possibly know what interest rates should be, simply because interest rates are derived in the marketplace.

Price fixing, by either the Fed or the President, always ends us creating… pic.twitter.com/7SecTQA8C8

— Ron Paul (@RonPaul) April 25, 2025

For HOURS of fun – see many more Steve Inman as well as other humor, quick smile clips , more – Whatfinger’s collection – click here

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