Essay: Criticism of the Chairman of the Federal Reserve
This article was written by Censky, Annalyn a staff of CNN on Feb 9, 2011. The article is about the criticism of the Chairman of the Federal Reserve, Ben Bernanke. He was being critiqued by a republic Paul Ryan after he made statements concerning the economy, fiscal and monetary policies of the state.
This was because Ryan was voicing his concerns of the stimulus package and its effect on the economy. Ryan fears that this will hasten inflation create bubbles within asset and crush the dollar. Ryan critiqued Bernanke for his quantitative easing in order to monetize debt which was increasing. However, Bernanke defended his position by stating that the quantitative easing will not increase money permanently. These statements come at a time when inflation rates have increased, unemployment has gone up by 9%, with corporate tax at 35%.
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