Senate Candidate Bell: Federal Reserve Needs To Be Reformed

During last Tuesday’s primaries Jeff Bell defeated three other candidates to win the Republican nomination to face Senator Cory Booker in the November elections for U.S. Senate. Bell told NJTV News Managing Editor Mike Schneider that after years since he last ran in politics, he decided to run for senate due to frustration.

“I’ve been in Washington with a job, policy director of the American Principles Project for four years and I’m trying to get attention focused on the Federal Reserve zero trade policy and the need to have a top to bottom reform,” said Bell. “The fed is such a 800 pound gorilla, they’re running the whole economy, its almost impossible to get congressmen interested in criticizing such a monster.”

Now that Bell is campaigning for one of the two senate representative seats, Bell said if elected he would bring the Federal Reserve back to the purpose that it was intended to do. According to Bell the Federal Reserve had two purposes, one was to even out monetary supply of the country and the other to be the lender in a last resort event of a bank run.

As for the interest rate policy, Bell said that the policy makes it impossible for people to save and that it destroys small businesses’ ability to expand.

As he prepares to campaign against Booker for the U.S. Senate seat, Bell said that he feel he can defeat Booker on the issue of the Federal Reserve.

“The fed is sitting on the entire economy, its why we’ve had no net jobs and Cory Booker like his mentor President Obama, doesn’t have an answer to that,” said Bell.