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How Would Economy React to New Fed Chief?

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  • Description

    Rep. Kevin Brady, (R-Texas), on the impact of the potential replacement of Ben Bernanke.

  • Duration 2:45
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This transcript is automatically generated

What twelve -- for diesel.

Ben Bernanke prints the market's rally is sold -- but according to Mitt Romney Bernanke needs to be replaced -- isn't it has again from oldest.

My view has been -- I would want -- select someone who it was a new member.

Should be a new person that chairman.

Chairman's position someone who shared by economic views.

Republican congressman Kevin Brady joins us now direct -- from Capitol Hill congressman always a pleasure welcome back so.

Good morning Stuart thanks -- I put it to you that if it was president Romney and he replaced Ben Bernanke.

And he replaced him with someone who wants to stop printing money.

Interest rates would go straight up and our economy would go straight down what's your -- so.

But one -- -- present Romney you know -- governor -- as president.

Has the right -- -- Fed Chairman actually shares his views on the role of the Fed which should be.

To grow the economy but.

Protecting the purchasing power of the dollar over time no question do you not think governor Romney.

Hits this issue on target for two reasons one the Fed's actions yesterday.

Stinging rebuke.

To the Obama leadership the economy here we are nearly three years.

After the recession ended in the -- still feels obliged to try to stimulate the economy secondly if you won't work.

I know its intentions are but.

Long term interest rates in liquidity.

Are not the roadblocks in the economy we know there are not economists know they're not and while you're getting the sugar high on Wall Street as you reported.

Job traders in the rest of country.

This is not going to move them at all I think.

I think there's widespread agreement.

That it's not go to move the economy all this money printing.

But what about that and let me get back to what I was saying on the the other side of the -- if you don't print money.

And there's no more action from the Fed.

Isn't that don't interest rates rise don't you hinting that clear if all of a sudden and that could happen -- Ben Bernanke goes.

And I don't think it cliff is is necessarily -- result of that I think what we know is you cannot continue this.

Near zero interest rates.

Regime.

Four years.

We know America's living on -- teaser rate.

Right now it's masking the true size of the deficit it has I think is gonna add tremendous.

Fuel.

To an inflationary spiral down the road so I liked the fact the governor Romney is not ducking the big issues and especially.

You know how we get this economy back on track.

That that Kevin -- always a pleasure to have you with us on the Sar on that accomplish Oaxaca breaking news for everybody -- --

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