Original post: It’s been over an hour since the Federal Reserve announced “Operation Twist” to keep long-term interest rates down and we’ve received just one statement from a politician on the FOMC decision.It comes from former Speaker of the House Newt Gingrich, and it could have been written about any Fed decision in the past decade:
“The Federal Reserve should not be making economic policy. As President, I will send to Congress legislation that returns the institution to its proper, limited role of stabilizing prices and preventing rampant inflation.”
Texas Gov. Rick Perry, who called further quantitative easing “almost treasonous”: Nothing
Former Massachusetts Gov. Mitt Romney, who criticised Perry’s comments: Nada
Speaker John Boehner, who warned Fed Chairman Ben Bernanke against more QE just yesterday: Zilch
We could go on, but either it’s taking politicians a long time to digest the expected announcement, or they’re avoiding it for some reason.
We singled out Republicans since they’ve been the most outspoken in their criticism of the Fed — but Democrats haven’t sent anything either.
Yes, we asked, and yes, we know the Fed is independent — but that hasn’t stopped politicians from reacting before.
We’ll update this with any other statements, if we get any.
Update 4:30: A spokesman for Jon Huntsman emails this statement:
“Our problems must be addressed not through tinkering with monetary policy, but by honestly addressing our economy’s underlying structural issues: taxes and regulation. We cannot stimulate our way to prosperity, we must earn our way by creating an environment that allows entrepreneurs to thrive and create jobs.” – Jon Huntsman
Like Gingrich, he doesn’t address the substance of “Operation Twist.”
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