There is a movement gaining solid traction in the house to bring a bill forward that would end the Feds 'Maximum Employment' mandate.
In 1977 this mandate was added to the Feds normal monetary control as a method to artificially move rates in order to stimulate growth which leads to stimulating employment.
This has been proven however to not work under an economy with deflating credit.
Thus artificially keeping rates low is having no material effect on growth... and actually can be easily viewed as causing much more damage than expected (see Greenspan zero rates).
If this recalling of mandate were to take place then one of the major pillars of the Feds ability to seize a stranglehold on our economy would disappear overnight.
And yes... Ron Paul is one of the very few that really get it. Sure hes kinda nutty in many of his ideas... but when it comes to the Fed and monetary supply he is spot on.
Still cant wait for the first Bernanke testimony with Paul at the helm of the Financial House Committee.