Dodd-Frank reform priorities were to increase transparency, decrease risk and protect the taxpayer from too-big-to-fail banks. None of those imperatives has been accomplished. But five years later, the legacy of Dodd-Frank has saddled banks and the economy with increased uncertainty and compliance costs of more than 400 new regulations, many of which aren’t yet finalized.

At Investor’s Business Daily, read CWPM Senior Fellow Scott Powell’s argument for why the Fed needs to normalize interest rates in 2015.