David Malpass Quote

The tenth amendment said the federal government is supposed to only have powers that were explicitly given in the Constitution. I think the federal government's gone way beyond that. The Constitution never said that you could have a Federal Reserve that would have $2.8 trillion in assets. We've gotten out of control.

David Malpass

The tenth amendment said the federal government is supposed to only have powers that were explicitly given in the Constitution. I think the federal government's gone way beyond that. The Constitution never said that you could have a Federal Reserve that would have $2.8 trillion in assets. We've gotten out of control.

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About David Malpass

David Robert Malpass (born March 8, 1956) is an American economic analyst and former government official who served as President of the World Bank Group from 2019 to 2023. He previously served as Under Secretary of the Treasury for International Affairs under Donald Trump, having served as an economic advisor to Trump during the 2016 U.S. presidential election; Deputy Assistant Treasury Secretary under Ronald Reagan; and Deputy Assistant Secretary of State under George H. W. Bush. He was chief international economist at Bear Stearns from 1993 to 2002, and chief economist from 2002 to the firm's collapse in 2008.
As of 2024, Malpass is Distinguished Fellow of International Finance at the Daniels School of Business at Purdue University.