This Guy Could Be Your Next President?!

I admit that I am no friend of the Fed or helicopter Ben. I would not eliminate the prospect of some political agenda either, but have seen no evidence of same to date. And I am not in favor of what the Fed did leading up to the recession in 2008 or what it has done in response (though the former was worse than the latter and the former is mostly on Greenspan). Still, for Texas Governor Rick Perry, the latest to throw a hat into the presidential ring, to say it would be treasonous for Ben to do anything to stimulate the economy between now and the election - over a year from now - is in itself treasonous. Seriously, I do not like Ben or his policies but he should be free to do what he sees best to do to fit his mandate. Trying to exert political pressure on him to do otherwise is the pot calling the kettle black.

http://www.businessweek.com/news/2011-08-16/perry-says-fed-spending-before-election-would-be-treasonous-.html

Keep in mind that Ben was Chairman of Bush's Council of Economic Advisors and then became head of the Fed while W was in charge. I really do not think he has a political agenda (at least not one supporting Obama), but cannot speak for others in the Fed. I do think he is doing what he thinks he needs to do to stabilize, if not stimulate, the economy. While I disagree with the approach, I would not consider him continuing the approach he has done for nearly three years to be a politically motivated endeavor. Perry apparently feels otherwise.

Perry, I noted, unlike Ron Paul, is not promoting the idea of doing away with the Fed. Still, it is apparent he does not like them. I do not like certain members or what they have been doing, but I think they serve an important purpose if done right, so I think they are a necessary evil.

The point here is it is a bit disappointing for him to be playing the Fed as a political card and trying to stop them from doing what they think is right. It almost seems he is afraid the Fed will do something to actually improve the economy and hurt his chances of election. If that is his reason, how screwed up is that?

Disclosures: None.