Gingrich to call for audit, reform of Fed

C.J. Ciaramella Contributor
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Looks like Ron Paul is no longer alone in his long-running crusade against the Federal Reserve. GOP presidential candidate Newt Gingrich is scheduled to speak out against the central bank tomorrow.

According to an early release from his campaign, Gingrich will speak tomorrow in Atlanta, Georgia and call for reform of the Federal Reserve that would strip the monetary agency of most of its power. (Is it premature to count Newt out? Lanny Davis thinks so.)

“The Fed currently has a dual mandate: dollar stability and full employment,” the release said. “They are incompatible. As part of a thorough reappraisal of the role of the Federal Reserve System, Congress should immediately return the Fed to its original sole focus on dollar stability.”

Gingrich will also call for a strengthening of the dollar and the repeal of banking regulations enacted under the Obama administration that Gingrich says hurts smaller banks.

Gingrich is set to deliver his remarks this Wednesday at 7:30 a.m. at the Atlanta Press Club’s Commerce Club.