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Fed fight: Will Rand Paul make a stand?

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MJ LEE and ALEXANDER BURNS
Politico
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.

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This article was posted: Tuesday, August 20, 2013 at 11:39 am





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