Federal Reserve Finds Increased Criticism on the Right

Wednesday, August 17, 2011

Texas Republican Gov. Rick Perry speaks to supporters on Election Night. (Ben Sklar/Getty)

Texas governor and presidential hopeful Rick Perry is not backing down from his threat against Ben Bernanke and the Federal Reserve. At an event in Iowa on Monday, Perry said that it would be treason if the Fed were to print more money. The Federal Reserve is no stranger from receiving criticism, but where left-wing politicians were formerly it's biggest critics, more recently conservatives like Ron Paul have been lashing out against the Fed.

Joining us to talk about why the Fed has become such a political issue, especially among conservatives and Tea Party members, is Kate Zernike, national correspondent for The New York Times and author of "Boiling Mad: Inside Tea Party America." She says the economy is very complicated, people are looking for villains, and the Fed is an easy target.

Guests:

Kate Zernike

Produced by:

David J Fazekas

Comments [3]

Chris

There is nothing new about Ron Paul criticizing the Fed, he has been the loan voice for 30 years. you should edit your article because to clump Ron Paul in as recent is very much incorrect.

Aug. 18 2011 10:03 AM
Charles

I think I get it. What I am supposed to think, courtesy of the New York Times and public radio, is that the Tea Party rubes just don't understand economics and hell, they don't even know that Fed Chairman Ben Bernanke was nominated by a Repblican administration! If only they had a better grasp of nuanced federal policy concerns and economic theory, then no doubt they would think better of such inflammatory statements from rabble-rousers like Rick Perry.

I get it. I get the message, and I don't even object to it, on technical merit.

All that I would hope for, is that NPR and American public radio (who cares about the NY Times anymore) would invoke the same sort of critical thinking when it comes to the other economically-illiterate rubes in the world today. Like the rioters in Greece, and England, and perhaps in Milwaukee, Chicago and Philadelphia who think that other bankers (the executives running commercial and investment banks) are to blame for their troubles. It is exactly the same kind of ludicrous, baseless, misplaced rage as what some Tea Partiers have expressed against the Federal Reserve Board.

The only difference is that Tea Party members are building businesses, and the miscreants in London have been burning businesses.

I know which group I fear the most, based on the histroy of recent violence and the clearest present danger.

Aug. 17 2011 10:57 AM
Peg from Southern Tier NY

Besides dissolving the Federal Reserve, Perry has also suggested that his state of Texas should secede from the US. Well, how about Perry secedes his state, runs for president of the great nation of Texas and THEN proves that his tea party economic policies will create a better country, before he tries out his ideas on our whole nation...
Ron Paul could be his vice president... Or maybe Ron Paul should be the president and Perry the vice. I'm sure the citizens of Texas would be thrilled to figure this out!

Aug. 17 2011 08:02 AM

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