The monetary musings of Gov. Rick Perry

Texas Governor and Republican presidential candidate Rick Perry, “…brought the Fed directly into the campaign debate Monday night by saying it would be ‘almost … treasonous’ for the central bank to play politics by expanding the money supply.

“‘If this guy prints more money between now and the election,’ Mr. Perry said in Cedar Rapids Monday night, without naming Mr. Bernanke, ‘I don’t know what y’all would do to him in Iowa, but we—we would treat him pretty ugly down in Texas.'”

Just a couple of notes for Gov. Perry.  I’ll keep this polite, since the governor carries a weapon when he jogs and has already threatened to treat one economist “real ugly.”

The governor seems to be saying that the Fed shouldn’t engage in any extraordinary measures to help the economy between now and the election.

Let me make sure I’ve got this right.  The Fed should do nothing to help the economy because it might alter the election results?  Specifically, it should do nothing to help the economy because it might increase likelihood that Barack Obama is reelected?

At this point, Governor, I’m pretty sure that the American people will welcome any policy action that improves the economy’s prospects, wherever it comes form and whatever its effect on the 2012 presidential election.

Now, if Governor Perry wants to prevent any meaningful economic policy from being enacted in order to enhance his electoral prospects, all he has to do is talk to his friends in Congress. They have already demonstrated that they are pretty good at that.