Explaining Southern California's economy

Econ 474: Why does the Tea Party think Ben Bernanke is a traitor?

This week's Republican candidates debate, presented by CNN and sponsored by the Tea Party, featured a moment when Texas Gov. Rick Perry was cheered for restating his rather negative views of Federal Reserve Chairman Ben Bernanke. This is from Talking Points Memo:

[H]ost Wolf Blitzer brought up Gov. Rick Perry’s comments that Federal Reserve Chairman Ben Bernanke’s emergency economic policies “almost treasonous.” Perry stood by the comment…“I am not a fan of the current chairman allowing that Federal Reserve to be used to cover up bad fiscal policy by this administration,” Perry said. “And that, I will suggest to you, is what we have seen.”

Perry continued:

“It is a travesty that young people in America are seeing their dollars devalued in what…we don’t know if it was political or not because of the transparency issue,” Perry said. “But I stand behind this: we need to have a Fed that’s working towards sound monetary policy, that creates a strong dollar in America, and we do not have that today.”

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