Dear Madam Yellen:
I read with interest of your closed door meeting with a left-leaning group of protestors to discuss the impact of monetary policy on American workers. The left does not have a monopoly on concern for average working Americans. I hope that you are equally willing to meet with a center-right group to discuss our concerns about how current monetary policy is reducing their standard of living. In that spirit I request a similar meeting in the near future.
Your recent meeting with representatives of the liberal end of the political spectrum has raised concerns regarding the political motives of the Federal Reserve System. While many who support free market principles share that concern, I am confident you intend to allow all political views to be considered. Otherwise, the Federal Reserve System will dissolve into a partisan entity serving the needs of special interest groups. As we are both painfully aware, such a condition could lead to the erosion in confidence in our currency, which must be above politics. I am confident this is not your intent.
We anticipate that you wish to get input from all respectable elements of the policy spectrum and would welcome the opportunity to open up direct lines of communication with you and the Board of Governors.
American Principles in Action is deeply committed to the flourishing of workers and of median income families. Our meeting will include some of the leading minds in free market economics, representatives of working families who do not share the view of those you have already met with and small businessmen being hurt in the current economy.
We applaud your commitment to this mutual goal and hereby request this meeting. One of my team will be calling your office soon to request that a date for such a meeting be set.
With respect,
Steven Lonegan
Director of Monetary Policy
American Principles in Action
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