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Kohn warns Congress on meddling in Fed's affairs

hypocritexposer

Well-known member
Sounds almost like a threat.

WASHINGTON, July 9 (Reuters) - The U.S. Federal Reserve on Thursday launched a robust defense of its independence and warned that efforts in Congress to put monetary policy under political sway would hurt the economy.

Fed Vice Chairman Donald Kohn said opening up some of the U.S. central bank's most sensitive decisions to political scrutiny could result in higher long-term interest rates and hurt the United States' credit rating. Kohn was speaking before a Congressional panel where he was seeking to beat back a proposal that would open policy decisions by the U.S. central bank to audits by a federal watchdog agency.

http://www.reuters.com/article/wtUSInvestingNews/idUSN0945907120090709
 
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