Palin tells Bernanke "cease and desist" – report

WASHINGTON, Nov 8 (BestGrowthStock) – Tea Party favorite Sarah
Palin weighed in on Monday on the global debate over the
Federal Reserve’s $600 billion plan to buy up government debt,
suggesting Fed Chairman Ben Bernanke should “cease and
desist.”

“We shouldn’t be playing around with inflation,” Palin, who
is widely seen as a prospective 2012 Republican presidential
candidate, said in remarks prepared for a Monday speech in
Phoenix.

“We don’t want temporary, artificial economic growth bought
at the expense of permanently higher inflation which will erode
the value of our incomes and our savings. We want a stable
dollar combined with real economic reform. It’s the only way we
can get our economy back on the right track.”

Excerpts of the remarks were published online by the
conservative National Review magazine. Palin’s staff was not
immediately available for comment. The report said the remarks
would be delivered in a keynote address at a trade association
convention.

Palin, the former Alaska governor and 2008 Republican vice
presidential nominee, is a top Republican Party figure and
leader of the Tea Party movement, which helped Republicans
recapture control of the U.S. House of Representatives last
week. The loosely organized movement includes conservatives and
libertarians, some of whom would like to abolish the Federal
Reserve system.

Representative Paul Ryan, expected to become chairman of
the House budget committee when Republicans take control of the
chamber in January, said on Sunday the advantages of the
central’s move to inject more money into the U.S. economy “are
very low.”

“I think its going to give us a big inflation problem down
the road,” Ryan said.

President Barack Obama and other U.S. officials defend the
Fed’s decision to buy $600 billion in U.S. Treasury debt as a
means to stimulate the economy and maintain global stability.

Palin’s remarks add her to to a growing list of critics,
including officials from China, Germany and Brazil, who are
concerned that the Fed plan could bring instability instead.

She appeared to align herself with recent criticism from
German Finance Minister Wolfgang Schaeuble.

“The German finance minister called the Fed’s proposals
‘clueless.’ When Germany, a country that knows a thing or two
about the dangers of inflation, warns us to think again, maybe
it’s time for Chairman Bernanke to cease and desist,” Palin
said.

Palin has not said whether she will make a White House bid
in 2012. But she has been using public appearances to bolster
her own political and policy credentials for the job.
(Reporting by David Morgan, editing by Philip Barbara)

Palin tells Bernanke "cease and desist" – report