uring the 2012 presidential election campaign, Texas Governor Rick Perry critici

Question

uring the 2012 presidential election campaign, Texas Governor Rick Perry criticized the actions of the Fed Chair Ben Bernanke. He Argued that, "Printing more money to play politics at the particular time in American history is almost treasonous in my opinion." An article in the Wall Street Journal commented that despite Perry's remarks, "Bernanke is willing to embrace the political independence embedded in his role to to what Fed officials think the economy needs." How is political independence embedded in the role of Fed chair? Why did Congress decide to make the Fed independent of the rest of the Federal government?

Explanation / Answer

The political independence embedded in the role of Fed chair because he is the head of the central banking system. The Congress decided to make Fed independent of the rest of the Federal government because of the increasing responsibility which may not allow Fed chair to distribute responsibility. The Congress decided to make the Fed independent of the rest of the Federal government because of this is going the role of government is vast which does not require interference of any opposition party. So, it may hinder parties who wants to bring changes in the government's policy which is in case of Congress.

Related Questions

Navigate

• Browse (All)
• Browse U
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.