Oklahoma's U.S. Senator Inhofe opposes Yellen as chair of Federal Reserve

Washington, D.C. - U.S. Sen. Jim Inhofe (R-Okla.) today released the following statement after opposing the nomination of Janet Yellen to be Chair of the Federal Reserve:

"It is my belief the Federal Reserve's focus should be limited to price stability because with a strong dollar comes a strong economy. But over the past several years, the Federal Reserve has been aggressively easing monetary policy for the dual purposes of price stability and full employment. Ms. Yellen has actively supported the Federal Reserve's ongoing monetary stimulus program, whereby the Federal Reserve prints money in hopes that it will spur economic expansion. This had made our nation’s economy particularly vulnerable to inflation, and I am concerned that under the leadership of Ms. Yellen, the Federal Reserve’s loose monetary policies will continue unabated and jeopardize the long-term strength of our economy. To achieve full employment, Congress and the President should embrace aggressive expansion of our domestic energy resources; simply printing more money won’t do the trick."

Editor's note: Opposing President Obama is typical for Senator Inhofe. He has claimed that the, "Obama Administration appears to be stifling religious freedom within our Armed Services, he has voted against every single gay rights issue, he brags in every email, that he is a "Ranking Member of the Senate Armed Services Committee” (SASC) and always votes to spend, spend, spend when it comes to the military.

Senator Inhofe is up for re-election in November. He will have someone running against him in both the primary and the general election. Stay with The Gayly for updates on election coverage.

The Gayly – January 7, 2014 @ 6am