Republican critics have taken issue with the Federal Reserve’s stimulus measures in the past. Rep. Barney Frank (D-Mass.) believes it’s time for voters to stop taking them seriously.
“[Republicans’] bitches and moans about the consequences of quantitative easing have been as inaccurate as the similar predictions they’ve made about same-sex marriage,” Frank told The Huffington Post in a phone interview on Thursday. “None of the negative consequences they’ve said would happen have.”
Frank, who became the first sitting member of Congress to marry someone of the same gender in July, said that the Federal Reserve’s new quantitative easing measures will boost the economy through the “wealth effect,” in which higher stock prices spur consumers and companies to spend more by making them feel wealthier.
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