Bernanke Success May Come at Cost of Congress Curbing Fed Power

[claphands22]

Bloomberg article : Bernanke Success May Come at Cost of Congress Curbing Fed Power

 

http://www.bloomberg.com/apps/news?pid=20601103&sid=ak8IMu6zJJVw#

 

If there is more regulation - would the effects of having more oversight of the fed be a good thing or a bad thing?

[ragnarisapirate]

If there is more regulation - would the effects of having more oversight of the fed be a good thing or a bad thing?

 

It all depends on whose ox is getting gored.

 

We have a double edged sword here... It is obviously bad for the public to have much say over monetary policy, since they will inevitably push for lower interest rates and more money to be printed (much like they push for ever higher minimum 'living' wages). However, as the public giving the government power, shouldn't we be able to have more knowledge about they are doing?

 

If anyone has read even a single paragraph of my blog, I doubt it would be a surprise I said that I don't think the fed should exist... I am kinda indifferent to oversight, as it would just make the legislative branch of government grow in power (which isn't really desirable). Though, it would be nice to know how they are implementing monetary policy.