World Bank President Suggests Less Authority For Federal Reserve
Regarding the Federal Reserve’s power, World Bank Groups President Robert Zoellick asks, “Will democratic governments permit independent central banks to assume even more authority?” Zoellick adds that “Congress felt surprised about the Federal Reserve’s authority to create funds, buy assets, devise global swap lines and make transactions outside the usual process for expending public monies.” (00:13)
September 28, 2009
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