One would be hard-pressed to identify the worst political ideas to come from this presidential campaign. But, from purely an economic perspective the calls to "audit the Fed" are a clear winner — or more appropriately, a clear loser.
The frightening part of this particular movement is that nearly all the leading presidential contenders — Donald Trump, Bernie Sanders, Marco Rubio and Ted Cruz — have all endorsed a form of auditing the U.S. central bank. Secretary of State Hillary Clinton is virtually alone in not endorsing such populist rhetoric. A bill to audit the Federal Reserve, co-authored by unlikely bedfellows Rubio and Sanders, failed to gain approval this past January in the Senate.