GRAND RAPIDS (WZZM) - Federal Reserve Chairman, Ben Bernanke took part in a town hall style forum Sunday in Kansas City, Missouri.
Bernanke defended the fed's actions in bailing out financial institutions. He said he had to "hold his nose" over some of last fall's bailouts. But he didn't want to be the fed chairman when the second great depression occurred. The town hall will air on PBS this week.
Texas Congressman and former Republican presidential candidate Ron Paul is sponsoring a bill to audit the Federal Reserve. He visited West Michigan over the weekend and spoke exclusively with WZZM 13 News. Paul says his candidacy brought out the energy of people who want stricter government economic policies.
"They're very interested in limiting government... and actually, believe it or not, young people are interested in what the Federal Reserve is doing. That fascinates me to no end."
Ron Paul says the federal government is doing exactly the wrong thing to fix the economic downturn by spending more. However, he says the American people individually are doing the right thing by taking another look at their budgets and living within their means.