Bernanke Seeks to Wall Off Rate Policy From Congress Federal Reserve Chairman Ben S. Bernanke sought to cordon off the central bank's independence on monetary policy from congressional scrutiny as lawmakers challenged its authority on everything from currency swaps to emergency loans.
The 55-year-old Fed chairman yesterday stepped up his defense of the central bank as it faces a bill with 275 legislator-sponsors to repeal immunity from audits of monetary policy. Bernanke told the House Financial Services Committee that Fed actions helped avert a credit "collapse," and gave Congress its own task: cut "unsustainable" budget deficits. Continue Reading http://www.bloomberg.com/apps/news?pid=20601087&sid=ayPLwbxVpPfY --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "ShadowGovernment" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/ShadowGovernment -~----------~----~----~----~------~----~------~--~---
