MSNBC host Chris Hayes lambasted Federal Reserve Chairman (FED) Ben Bernanke Saturday morning for what he and a number of notable economists across the political spectrum feel is Bernanke’s lack of urgency in turning around the country’s economy.
Hayes was so bemused by Bernanke’s lack of aggressive action that he pondered whether his political affiliations was influencing him to keep the economic recovery anemic and whether he wanted President Barack Obama to intentionally lose his job in November.
“We should start viewing his salary as an incline contribution to the Mitt Romney Super PAC,” Hayes said. “More than any other single individual in the country, Ben Bernanke holds the fate of the U.S. economy in his hands. And as such, he holds the fortune of Barack Obama, the Democratic Party, and the legacy of liberal governance in his hands.”
Hayes mentioned how Bernanke was ignoring his own views of the past, where he argued for country’s central banks to take drastic measures in order to save the economy in Japan. Citing the “zero lower bound,” Hayes said that Bernanke has used it as an “excuse” to do little and mentioned how Bernanke’s friend and fellow economist Larry Ball published a paper critical of the Republican chairman’s judgement.
“It seems to go against everything Ben Bernanke believes in,” the Up host said. “This is the great mystery stalking those who closely follow monetary policy. The question of what’s gotten into Ben is the single most pressing question in the entire political economy right now.”
Paraphrasing Bell’s paper critical of the chairman, Hayes added: ” Why the hell won’t the Ben Bernanke of today listen to the Ben Bernanke of yesteryear?”
WATCH: Video from MSNBC, which was broadcast on June 9, 2012.