Perry Renews Attack on Bernanke, Monetary Policy

WASHINGTON (AP) — Republican presidential candidate Rick Perry is renewing his criticism of the Federal Reserve Board, saying it must be more transparent.

The Texas governor repeats in a CNBC interview that if elected president, he wouldn't reappoint Ben Bernanke as Fed chairman.

Asked about that, Perry said, "We would put someone in who actually believes that the private sector is how you stimulate the economy — not by printing more money at the Fed."

Bernanke conceded Wednesday that the Fed can accomplish only so much with its control of interest rates. He told an audience in Cleveland, in his words, "Monetary policy can do a lot, but monetary policy is not a panacea."

Perry created controversy earlier by saying that if Bernanke came to Texas, "we would treat him pretty ugly."