To Fed or not to Fed

Via the Financial Times today, I read that Ron Paul has been appointed to head the congressional oversight of the US Federal Reserve.  When I read that Ron Paul has written a book called "End the Fed," I thought that it is better that we put a skeptic in charge of oversight than a yes man.

I haven't read his book, and maybe I will.  I'm guessing it has arguments along the line of "our country is so in debt, and evil foreigners own our debt, and it's baaaad."  It is true that being indebted to foreign countries reduces your ability to act unilaterally on a global stage, but it is also true that being economically integrated by importing and exporting goods and services has the same effect.  Reducing our foreign-held debt, and then thinking that the US can do whatever it wants whenever it wants would be foolish, as you could screw up trade.

But anyway, like I said, I haven't ready the book yet.

But the concern is that his role as a public servant is to protect the interests of well, me and you.  He is so obviously biased in his role, that even if the best thing for everyone into perpetuity is for the federal reserve to continue to do what they do, I doubt he would be willing to accept that.  I mean, he has a reputation to uphold.