Ben Bernanke has a thankless job. I mean, yes he is a Republican and he is not leaning hard enough on policies that could save the economy, but fundamentally he has a job to do, not entirely different from that of other central bankers. More importantly, like other central bankers, he has to execute carry out those duties as independently from the political aparatus as possible. That's the way Congress wanted it when they created the Federal Reserve.
Enter Rick Perry.
I'll let Govenor Hat/No Cattle Take it from here.
“If this guy prints more money between now and the election,” Perry said, “I don’t know what y’all would do to him in Iowa, but we -- we would treat him pretty ugly down in Texas. Printing more money to play politics at this particular time in American history is almost treacherous -- or treasonous in my opinion.”
The ABC report goes on to accuse Bernanke of colluding with Barack Obama.
Let's consider two points. The first is the less obvious one. Political interference like this is grossly unnecessary and unhelpful. You can disagree with how the Fed works or whether it should do what it does. That's Ron Paul. Obviously I do not agree with Ron Paul on that. More importantly, the Great Depression and the current recession excluded, the Federal Reserve's actions, including printing money, have helped stabilize the country's finances rather than suffer Depression after Depression decade after decade. The Panic of 1873, was in its time, the Great Depression and several other depressions like it led to the need for a central bank. Let's put it another way, there is NOTHING inherently treasonous (let's face it we know there are unjust laws, but that's different) about carrying out a duly enacted Act of Congress, even one that is pushing a century in age. And, not that Rick Perry reads his Constitution, but McCulloch v. Maryland for about two centuries has put to rest whether Central Banks are Constitutional.
Then there is the implied violence against Bernanke. One of my favorite manure-projectiles the right hurls at Obama (and anybody that doesn't agree with them) is the claim that he and others are thugs/gangsters. What is more thuggish then implying violence against a government official. Would the governor greet such claims against him, were he to venture into a state unfriendly to him (and one that does not permit him to carry his gun)? What is the benefit to saying that such and such would happen in Texas, all the while calling the person a traitor.
Interestly, however, some on the right are already jamming their faces into their palms. The writer for Commentary compares Perry to a caller on a radio show (I listed to 2 minuts of AM talk radio last week and I want my life back).
There has been plenty of incivility, demands for civility after Tuscon notwithstanding, on both sides. I'd still lay more blame on the right, but whatever. Still this is a prime example of what we should not be doing. Jared Loughner was not political or driven by anything other than his own demons. But what about somebody driven by their own demons and imbalance, as well as perhaps their uber-nationalism, who puts together Treason, violence and a Google image search of Bernanke.
It's tough to say whether Bernanke should publicly respond. It may be best that he just ignore it. However, maybe in a press conference or statement, Bernanke just say I do what the law tells me to do and that is help the American economy. If Rick Perry does not like it, let him secede and go without a Central Bank.