With the Federal Reserve under attack at home and abroad, it is making an unusual public bid to keep itself away from the political crossfire.
After a barrage of criticism over the last week — including from foreign leaders, Congressional officials, economists and Alan Greenspan, the former Fed chairman — the Fed came out to explain its efforts to inject $600 billion more into the sagging economy.
One worry of Fed watchers as well as its defenders is that some of the domestic criticism may have the subtext of challenging the Fed’s traditional independence in deciding monetary policy without political interference.
Full Story: New York Fed President Defends Bond Buying Plan – NYTimes.com
