POLITICO: Republican House and Senate leaders told Federal Reserve Chairman Ben Bernanke to “resist further extraordinary intervention in the U.S. economy,” saying in a letter sent Monday that steps intended to boost growth might actually make things worse.
The letter represents an audacious move against a central bank that prizes its political independence yet has become a source of controversy for some as the country stumbles out of the 2008 financial crisis.
House Speaker John Boehner, Majority Leader Eric Cantor, Senate Minority Leader Mitch McConnell and Arizona Sen. Jon Kyl all object to a recent Fed policy that flushed $600 billion into the economy, a move they warned should not be repeated following a Fed committee meeting slated to end Wednesday afternoon… (more)
EDITOR: It seems every thing accomplished during the 20th century in the way of successful reform is under challenge by political opportunists and ignoramuses.
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