It hasn't been a great week for the Fed. Between the abrupt resignation of Richmond Federal Reserve Bank President Jeffrey Lacker for leaking information to the press and the release of FOMC minutes which roiled the markets, lot's of people are upset with the institution.
With that in mind, Jim Cramer asked a panel of experts gathered for this month's Trading Strategies roundtable whether and how the Trump administration should move to clean up the the Fed.
Peter Tchir, an expert on fixed income and lead columnist for Income Seeker, noted that many in Congress want to reform the Fed so that its actions follow set rules. "This really starts opening the door for a rules-based-type policy, where Congress takes much more control of what goes on at the Fed," Tchir said. "I think that would provide a lot more clarity.:
Stocks expert Stephen Guilfoyle wondered whether the Fed could be as bold in its actions to raise rates as it's being "dragged through the mud" over its internal investigation of the Lacker issue. And gold expert Daniel Yoe Williams said the Fed's problems speak to the whole "drain the swamp" message Trump campaigned on.
Cramer agreed and noted that reform could do away with the "ridiculous poker game" of trying to interpret and parse communications from Fed members for signs of future moves on interest rates.
Click here to watch Cramer's entire Trading Strategies video. Or, you can read detailed advice on how to invest for the second quarter from Guilfoyle, Tchir, forex columnist Douglas Borthwick, and gold maven David Yoe Williams.
(Editor's Pick. This article originally ran at 2 p.m. ET April 8.)