statement that he would likely advise a President Romney to keep Ben Bernanke as Fed chairman, the presumed GOP candidate told Fox Business that he would select a "new person to that chairman position". Romney doesn't exactly have the best track record of standing firm on an issue, but It would be very difficult for him to backtrack after such a statement.
And there's more encouraging news: Drafts of the party platform to be adopted at the Republican
National Convention call for an audit of the Fed and a study of a possible return to the gold standard. Is this too good to be true? A return to the gold standard would 1) make it impossible for the Fed to blow bubbles, which would greatly reduce the possibility of future economic depressions, and 2) limit future inflation. The only caveat: it would also severely limit the amount politicians can deficit spend. Is the GOP willing to abandon deficit spending?
Stay tuned to see if these two extremely important positions make it to the final draft.