MJ LEE and ALEXANDER BURNS
August 20, 2013
If you thought the debates over drones and surveillance were tailor-made for Kentucky Sen. Rand Paul, just wait until President Barack Obama picks a new Federal Reserve chair.
The upcoming debate over the confirmation of a successor for outgoing Fed Chairman Ben Bernanke is both a golden opportunity and a test for the libertarian-leaning senator, who has long criticized Bernanke’s policies and the institution of the Fed.
With Washington polarized over the top two contenders for the job — Fed Vice Chairwman Janet Yellen and former Treasury Secretary Larry Summers — a potentially messy nomination battle is sure to give Paul and other tea party conservatives an opportunity to rail against the central bank.
For Paul, the moment will also be a measure of whether he can continue to rally his grass-roots supporters, many of whom fueled his father Ron Paul’s Fed-bashing presidential campaigns, without turning off deep-pocketed GOP donors in the financial services community who don’t share the Paul legions’ near-obsession with the central bank.
This article was posted: Tuesday, August 20, 2013 at 11:39 am