BREAKING NEWS

Top Romney adviser: Consider keeping Bernanke

By REUTERS

AUGUST 22, 2012 15:24

NEW YORK - Ben Bernanke received an unlikely defense of his work at the US Federal Reserve by a top Mitt Romney adviser, who said on Tuesday that he should be considered for a third term as chairman.

Glenn Hubbard, economic adviser to the Republican presidential candidate, said he would advise a possible President Romney that Bernanke should "get every consideration" to stay on beyond January 2014, when the chairman's current term expires.

The comments may come as a surprise given Romney has said he would not reappoint Bernanke beyond 2014. Further, many top Republicans have blasted the Fed's aggressive policies since the Great Recession as overreaching and reckless.

"Ben is a model technocrat. He gets paid nothing for getting kicked around all the time. I think they ought to pat him on the back," Hubbard said in an interview, adding he has known Bernanke since they were "practically kids" and regularly speaks to him.

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