Grateful for the Fed

Nice rant on the Federal Reserve, Kristopher Lummus (“Paul will end the Fed,” March 25), but as you can see by what’s happening with the European Union, a modern nation state cannot exist without a central monetary power that can react with enough speed and authority to avert crisis.

The EU is slowly falling apart because each country must approve of each step in the recovery process. With its first financial crisis brewing as we speak, you can see the results of not having that central authority. They will still be years recovering, and will most likely be kicking some countries out of their union.

Is this what you want the United States to revert to? We have come out of many recessions because the Federal Reserve can shift large amounts of money where it needs to go. I, for one, am glad that we have that ability.

Paul Alsept

Spokane