Fed Chairman Ben Bernanke
had an interesting morning over on Capitol Hill, facing the ire of Ron Paul and receiving Democratic praise from Barney Frank. Bernanke was testifying before the Committee on Financial Services, where he said the economic recovery continues but remains frail, but was put on the spot by Ron Paul who pulled out a silver eagle and accused him of debasing the currency and destroying America’s wealth.
Ron Paul was in full campaign mode. So was Barney Frank. Bernanke was caught in the middle.
In what was supposed to be a Q&A session, the Fed chief essentially sat down and listened to one side bash him and the other love him. Barney Frank took the floor after some softballs by Committee Chairman Spencer Bachus, praising Bernanke’s tenure as Fed Chairman and pointing to continuing job growth.