2 Debates and No Mention of the Fed: How Is that Possible?Submitted by SteveMT on Fri, 10/12/2012 - 11:43
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2 Debates and No Mention of the Fed: How Is that Possible?
By Aaron Task 10-12-2012 11:00am ET
With two debates down and two to go, there's a lot of talk about who's winning and losing, about "style points" and, of course, intense scrutiny on what's been said. But let's take a moment to reflect on what hasn't been discussed or hasn't gotten nearly enough attention at the halfway point of the debate cycle:
The Fed & Ben Bernanke
There have been two debates and no mention of the Federal Reserve? How is that possible? The economy is the biggest issue of this campaign and the Fed is playing a huge role in the economy so it's hard to fathom that not one question has been asked about Ben Bernanke & Co. and none of the candidates have brought up the central bank.
One theory is that the "average" American doesn't care about the Fed, know what it does or who Ben Bernanke is. I think that underestimates the intelligence of the American people. They might not understand the intricacies of monetary policy but they do know they're getting almost no return on money markets and CDs and that a zero interest rate policy is highly abnormal.
Moreover, Ron Paul rose to national prominence in large part because of his criticism of the Fed and his "audit the Fed" bill passed the House this summer. [my emphasis]