That paragon of good judgment, Barney Fwank, joins Timmy in decrying those Wascawwy Wepublikans who dare to criticize Da Fed.
Oh, the humanity.
“I was appalled to see a group of Republican economists from the Bush and Reagan administration” arguing against the Fed’s asset-purchase program. “Republicans are joining the central bank of China in attacking Bernanke. This is really distressing to me.”
Frank, who spoke in an interview today on Bloomberg Television’s “In Business with Margaret Brennan,” called the Fed program to purchase $600 billion in assets through June “a very reasonable thing” that isn’t fueling inflation, as Republican critics contend.
A group of 23, including former Republican government officials and economists, published a letter to Bernanke urging him to halt the expansion of monetary stimulus because it risks an inflation surge. Separately, John Boehner, nominated to be the next House speaker, and three other Republicans leaders last week sent Bernanke a letter expressing “deep concerns” about a policy they said risked weakening the dollar and fueling asset bubbles.
Mr. Frank might be better served attending to his paper shredders.
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