Back in September, during the early days of the heated GOP primary, Mitt Romney threw a bone to the hard right of the party by saying he’d fire Bernanke.And since then, Romney and the party’s mainstream continue to pretend that they have a hard money, anti easing stance.
Today we got an email from a group called The American Principles Project applauding the GOP’s inclusion of a “Gold Commission” in the party’s official platform.
Romney even says he’s into the idea of auditing the Fed.
But this is all show. The truth is that Romney is already backtracking, and we know this because on CNBC yesterday Romney economic advisor Glenn Hubbard said Bernanke was doing a good job, and that he would warrant consideration for renomination.
There it is!
The hard money people get some toothless lines about gold and auditing the Fed in the party plank. The economic advisor goes on Wall Street TV to say that Bernanke has done a good job and warrants consideration for a third term.
More evidence that for all the talk about tight money and austerity, Romney will likely push to stimulate the economy in every way he can once in office.
And bigger picture, this is the biggest monetary policy news of the last day. All the back and forth about QE or no QE is just noise.
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