The Impact of High interest Rates on The Economy: A Call for Congressional Action

Correspondence to James R. Jones expressing concerns about high interest rates and the control of currency by the private banking sector. The author argues that the Federal Reserves actions in raising interest rates are inflationary and negatively impact the cost of living and employment. They believe that returning control of currency to Congress would be more responsive to the will of the people and that ample funds at reasonable rates would solve many economic problems.