Tales from the Trail

Romney looks to give Bernanke the boot

April 26, 2012

U.S. Federal Reserve Chairman Ben Bernanke attends the International Monetary and Financial Committee (IMFC) meeting during the spring IMF-World Bank meetings in Washington April 21, 2012.

“I’d be looking for somebody new.”

Those words from the U.S. Republican presidential candidate Mitt Romney may give Federal Reserve Chairman Ben Bernanke some pause – or at least thinking about some other job prospects if the GOP frontrunner wins the Nov. 6 election.

As we report,  Romney, a former business executive who’s made the economy the cornerstone of his campaign, has made it clear that if he wins the White House he will try to replace Bernanke. The Fed chief’s term ends in January 2014 – a year after the next president takes office. Although Bernanke was nominated by Republican President George W. Bush, Democratic President Barack Obama give him second term in 2009.

Bernanke, who was back in the spotlight on Wednesday as he defended current U.S. monetary as being on track, has been both vilified and revered for his role amid the Great Recession that began in 2008. Critics contend he is pursuing a reckless money-printing binge that exposes the world’s largest economy to a dangerous inflation risks while his defenders credit him with bold moves to stimulate growth that prevented a repeat of 1929-level depression.

Romney is signaling he wants the Fed – and the economy — to take a different direction. And that means giving Bernanke the boot, he says.

See our video here.

Comments
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Of course Romney wants to give Bernanke the boot, it was Bernanke that had to point out to GWBush Sec of Treasury Paulson (Goldman Saks man) the tanking of the economy. Paulson was clueless. GWBush asked for the passing of TARP and no strings attached! Congress gave GWB what he wanted. So much for having a businessman (GWBush) as a President, and a Wall Street guy (Paulson) as Sec of the Treasury. So busy spending on Iraq they both lost sight of the American economy. And lets not forget John McCain during this time telling the people the fundamentals of the economy were sound…The Dow tanked! Romney wants to boot Bernanke who saw it coming and yet Romney is proposing GWBush same economic plan. LOL

Posted by NewsDebbie | Report as abusive
 

Blame Bush, the never ending chant from Democrats.
It’s ok when Obummer continued the Wall st. & Bankster bailout,
and even made Tax Dodging, job exporting G.E.’s CEO Immelt “Jobs Czar”

Democrat Cronyism: Good, Republican Cronyism: Bad.

When he continued the Iraq and Afghanistan wars and added a few of his own.

Democrat Wars: Good, Republican Wars: Bad.

Posted by SavageNation | Report as abusive
 

Getting rid of Bernanke would be about as clueless as every other portion of Romney’s economic incompetence. He didn’t even move into Bain – with other people doing the investing – until he had a 100% salary guarantee in case he screwed up.

The man has the courage of the average bear – none! He has the competence of today’s Republican Party – none!

Part of the success story of the stimulus package has shown up around the country in basic manufacturing industries and continues. Half the credit goes to the halfway measures Obama was able to force past the Party of No – before it became the Party of Never. The other half goes to Bernanke and the availability of greenbacks for industrial revival.

Ohio steel being the best example. Unemployment down to 7.5% in that state.

Posted by Eideard | Report as abusive
 

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