Newt Gingrich in debate: I’d fire Ben Bernanke as fed chairman

Former House Speaker Newt Gingrich said he would fire Federal Reserve Chairman Ben Bernanke if elected president in 2012.

Gingrich made the comments Wednesday night during the GOP presidential debate at the Ronald Reagan Library in California when asked if he would reappoint Bernanke at the end of his term in 2014.

“I’d fire him tomorrow,” Gingrich said. “I think he’s been the most inflationary, dangerous and power-centered chairman of the Fed in the history of the Fed.”

Gingrich continued: “I think his policies have deepened the depression, lengthened the problems, increased the cost of gasoline and been a disaster.”

He also said “the fed should be audited.”

Likewise, when asked the same question, former Massachusetts Gov. Mitt Romney said he would be “looking for someone new” instead of reappointing Bernanke for another term setting monetary policy.

It’s been noted, however, that the president cannot actually fire the fed chairman.