Congress should establish a National Monetary Commission to investigate these issues and think about how to exit the Fed, not just exit current monetary policy.

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Rather than considering helicopter money, it would be wise to convene a National Monetary Commission and have a serious debate about rules versus discretion and about alternatives to government fiat money.

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It is deplorable that so few of our elected officials, with the notable exceptions of Rep. Kevin Brady, prime sponsor of the Sound Dollar Act, and Rep. Marsha Blackburn, who successfully championed a national monetary commission as part of the 2012 GOP platform, have focused on moving monetary policy to center stage.

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