To: Jerome Powell, Chairman, Board of Governors of the Federal Reserve System

A patriotic petition to restructure the Fed

Study of the Economic Process transforms economics from a linear - rather domineering practice - to a relational discipline; see JEL, December 2017, p. 1642. Concordian economists need to work with ecologists, sociologists, lawyers, and politicians, among other intellectuals. t

The Economic Process is the core of Concordian Economics. From the context of Corcordian economics, it can be seen that to function as a public bank, the Fed should
(1) Issue loans ONLY to create real wealth, such as tables, chairs, and foodstuff;
(2) Loans to benefit everyone - by funding, through local bank, individual entrepreneurs, cooperatives, ESOPs, and public entities with taxing power, so that loans can be repaid;
(3) Loans at cost.

Concordian economics offers a paradigm change from money controlling people to people controlling money.

Why is this important?

The monetary system is broken – the world over.

It is not working for the poor.
It has led to the collapse of the middle class.
It is not working well for the rich, except in an illusory and transitory way.

We have to turn the Fed from serving the few, rather badly, to serving everyone well.

If the proposed structure is in place, let Wall Street tremble or financial behemoths collapse, Main Street will continue to prosper.

How it will be delivered

If means allow, we hope to send, first, a copy of the book on Concordian economics to every member of the U.S. Congress - asking them to organize Study Groups to evaluate the proposed Concordian Monetary Policy.

Thereafter, we hope to send Signed Petitions to every Member of U.S. Congress - and to Jerome Powell, Chairman, Board of Governors of the Federal Reserve System.