Economists are divided over the sticky question of whether America should attempt to stimulate its struggling economy with a third bout of quantitative easing. But to Rick Perry, the Texan governor who hopes to become the next president of the United States, the issue is clear – QE3 would be akin to treason.
Perry, a late entry to the race to challenge Barack Obama for the White House, told a gathering in Iowa that it would be disastrous for the Federal Reserve to print more electronic money to fuel another round of asset purchases.
“Printing more money to play politics at this particular time in American history is almost treacherous, or treasonous, in my opinion,” said Perry, on his first full day of campaigning for the Republican nomination.
Perry was responding to a question over what he would do with the Federal Reserve if he became president. He initially tried to duck the question, saying he’d “take a pass on the Federal Reserve”, before launching a personal attack on Fed chair Ben Bernanke.
“If this guy prints more money between now and the election, I don’t know what y’all would do to him in Iowa, but we would treat him pretty ugly down in Texas,” said Perry.