A free market society still requires government to provide the framework for the

Question

A free market society still requires government to provide the framework for the market by protecting private property, providing for basic law/order and public goods like transportation infrastructure, setting market standards, enhancing competition, and enforcing contractual obligations. Hence the economic goals of a government in such a society include the promotion of macro-economic stability, prosperity, and the growth of commerce. To this end their are two broad types of tools the federal government uses: fiscal policies and monetary policies. Generally speaking, monetary policies are set outside the immediate political branches, by the Federal Reserve system (Fed); this has always rankled people on the extreme Left and the extreme Right who criticize the fed as being too unresponsive to 'the people'. Should we bring monetary policy making into the political realm, away from economic experts at the Fed?

Explanation / Answer

There should be monetary policy brought in to the political realm away from economic experts at the Fed. The market is governed by the policies which works upon the upliftment of the society. The opportunities to reform global trade through exports gives rise to the revenues earned by the nation.

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