from The Daily Bell:
Ron Paul‘s Hearing to Ask: Mend or End the Fed?… Defenders of Ben Bernanke may be hard to come by in at least one gathering Tuesday on Capitol Hill. Ron Paul, the Republican congressman with libertarian positions who is still running for president, will host the much-hyped hearing titled, “The Federal Reserve System: Mend It or End It?” Mr. Paul, who heads the House panel that oversees America’s central bank, has made a career for himself arguing the later and the central bank is beyond fixing. (The congressman’s 2009 book is also titled “End the Fed.) Witnesses include Rep. Kevin Brady (R., Texas), who has introduced legislation to eliminate the Fed’s dual mandate of promoting maximum employment and price stability. Mr. Brady opposed much of Mr. Bernanke’s efforts to stimulate the economy by pumping money into it. He would rather the Fed just focus on inflation. Rep. Barney Frank (D., Mass.), who will also testify, has his own issues with the Fed. He feels the central bank spends too much time worrying about inflation and should be more proactive in curing the hangover from last decade’s recession. – AP
Dominant Social Theme: Ron Paul? Isn’t he a political non-factor … ?
Free-Market Analysis: Ron Paul, libertarian-conservative candidate for US president just won’t quit. In fact, he keeps grabbing delegates and is threatening to deprive putative GOP nominee Mitt Romney of a first-round nomination.
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