Many Americans distrust the Federal Reserve. At Tea Party rallies back in 2009, one would even see placards urging that we “End the Fed.” But can Congress just summarily end the Federal Reserve? In November 2013, Forbes ran “100 Years Later, Was the Federal Reserve a Good Idea?” by Gerald P. O’Driscoll Jr., a former vice president and economic advisor at the Dallas Fed who is now a senior fellow at the Cato Institute. O’Driscoll contends that “the Fed has made many mistakes, but the current era of big government precludes any near-term possibility of abolishing it.” He then hastened to add that the Fed  “can be improved.” Here’s one idea that would not only “improve” the Federal Reserve, but perhaps Congress as well. Since the Humphrey-Hawkins act of 1978, Congress has tasked the Federal Reserve with promoting full employment. That’s on top of its original duty of maintaining price stability,...(Read Full Article)