WASHINGTON (MarketWatch) — The Federal Reserve has been working for months on improving its communication with financial markets. But the central bank does not seem to speak the same language as one key group — Republican primary voters.
During the Republican presidential campaign, attacks on the Fed have become as commonplace and unremarkable as images of fluttering American flags and the national anthem.
Hardly a week goes by without some negative reference to the central bank.
Texas Gov. Rick Perry started the attacks off by threatening bodily harm to Federal Reserve Board Chairman Ben Bernanke and accusing him of treason.
Front-runner Mitt Romney has since said he would fire Bernanke. Former House Speaker Newt Gingrich also said he would fire Bernanke and went further to propose a commission to examine returning the U.S. to the gold standard. And Texas Rep. Ron Paul has reveled in his unwavering stance of simply ending the Fed.
What is behind these unprecedented attacks from a party that used to be synonymous with business and banking? And what may be in store for the Fed if Republicans take the White House and the Senate in November?
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