Top Romney Advisor: Bernanke Deserves 3rd Term!Submitted by JO4RP on Wed, 08/22/2012 - 14:52
Ben Bernanke received an unlikely defense of his work at the U.S. Federal Reserve by a top Mitt Romney adviser, who said on Tuesday that he should be considered for a third term as chairman.
Glenn Hubbard, economic adviser to the Republican presidential candidate, said he would advise a possible President Romney that Bernanke should "get every consideration" to stay on beyond January 2014, when the chairman's current term expires.
Hubbard, who was chairman of the White House Council of Economic Advisers under Bush, said Congress is right to consider forcing the Fed to explain policy decisions. But "the idea of putting them more under the microscope of literally auditing decisions - I don't think so," he said.