Staff Reports
Republican presidential candidate Vivek Ramaswamy is not mincing words when it comes to the Federal Reserve’s role in the collapse of Silicon Valley Bank (SVB). In a recent interview with Newsmax, Ramaswamy slammed the Federal Reserve for their “deep-seated mistakes” and for “trying to play God” with the economy. He went on to say that the Federal Reserve should never have been given the responsibility of playing God in the first place.
The collapse of SVB was due to high interest rates and asset sales, and it was so severe that the British bank HSBC had to step in and buy the U.K. arm of SVB for one pound. Ramaswamy believes that this is a result of the Federal Reserve’s incompetence and lack of oversight. He is also critical of the Fed’s focus on ESG measures, such as sustainable and green operations, rather than focusing on a healthier balance sheet.
‘They’re Not God’: GOP Presidential Candidate Rips Federal Reserve Over Bank Collapse, Vows Reform https://t.co/lDwFKAGzje
— Patriot911 (@Patriot911News) March 13, 2023
Ramaswamy has vowed to reform the Federal Reserve if he is elected president, and he believes that this reform should include putting the Federal Reserve back to its original mission of restoring the dollar as a reliable unit of measurement. He also believes that there should be one set of rules for everyday Americans and one set of rules for Silicon Valley banks, and that the current system of allowing Silicon Valley banks to get away with more than everyday Americans is a problem.
It is clear that Vivek Ramaswamy is not a fan of the Federal Reserve’s current policies, and if he is elected president he will be sure to make some major changes. His proposed reforms could have a major impact on the economy, and it will be interesting to see how they are received by other politicians and citizens alike. It is clear that Ramaswamy is not afraid to stand up to the Federal Reserve and call them out for their mistakes, and his willingness to do so should be applauded.
