Gingrich: 'Campaigns go up and down'

By SHANNON McCAFFREY | June 22, 2011 | 8:59 AM EDT

ATLANTA (AP) — Newt Gingrich is brushing aside recent upheaval in his presidential campaign, noting that Republican hero Ronald Reagan suffered campaign staff defections and went on to win the White House.

At a speech before the Atlanta Press Club Wednesday morning, Gingrich said "campaigns go up and down."

He noted that if early political handicapping were accurate, Hillary Rodham Clinton would have been the Democratic nominee for president in 2007, not Barack Obama.

On Tuesday, Gingrich's campaign confirmed that its top fundraisers had left. And 16 top advisers and staff walked out on the former House speaker's campaign for the Republican nomination earlier this month.

Gingrich on Wednesday called for reforms of the Federal Reserve to provide checks on its ability to manipulate the dollar, bail out corporations and undercut housing prices.