The Federal Reserve just raised interest rates for the first time since 2023, and John Maynard Keynes and Murray Rothbard are back to settle whether America needs a central bank at all.

Keynes says that without a lender of last resort, one rumor can take down even a sound bank. Rothbard says the Fed is legalized counterfeiting and inflation is a hidden tax.

Which economist is the gold standard and which is in a panic?