During the CNBC GOP debate, Ted Cruz argued for a full audit of the Federal Reserve, stating that it is necessary to determine whether or not the institution is engaging in politically motivated actions. Cruz believes that the Fed is responsible for the current economic instability and that a full audit would shed light on their actions. He also argued that the Fed should be stripped of its ability to manipulate interest rates and that a “gold standard” should be instituted to stabilize the economy. The other candidates largely disagreed with Cruz’s proposal, with some arguing that an audit would interfere with the Fed’s independence and others stating that it is not the root of the country’s economic problems.
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