Thank you for this invitation to speak at Cato. We have fought together in many battles for the principles of economic freedom and a limited, Constitutional government. While the policies of the Obama Administration have been troubling, revelations over the past five days are awakening many more Americans to the dangers of unrestrained government.
Big government is a breeding ground for political abuse and harmful social experimentation. Americans should not be Washington’s lab rabbits. With news stories breaking about the enforcement cudgel of the IRS being brought to bear on political enemies, and the Justice Department’s wire-tapping of the Associated Press, something is clearly wrong.
The work that Cato does in pursuit of economic freedom and limited government is more important than ever. For years, Cato has been a leader in the debate on monetary policy. I commend President John Allison for his recent commentary, “The Federal Reserve’s Unsound Policies,” in the Cato Policy Report. Thus, I am honor that Cato would invite me to talk about monetary policy today.
Read Chairman Brady's Full Speech attached in pdf format below