Washington Post (September 19)
2013/ 09/ 21 by jd in Global News
The massive economic power of the Federal Reserve again moved markets this week. “This much Fed power is not in the long-term interest of the U.S. economy, nor that of the world. We say this not because the Fed’s policies under Mr. Bernanke have been wrong. To the contrary, taking interest rates to zero was aggressive but appropriate in the face of an epic recession…. Yet the Fed’s huge role represents more responsibility for the economy than a single technocratic institution — or any one fallible, unelected official, even a dedicated, talented one such as Mr. Bernanke — should bear for too long.”
Tags: Aggressive, Ben Bernanke, Bernanke, Economy, Federal Reserve, Institution, Interest rates, Power, Recession, Responsibility, U.S.
