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source urlgo to link Federal Reserve Chairman Ben Bernanke predicted a stronger year for the U.S. economy in 2014, saying several factors that have held back growth appear to be abating.
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source urlsee url “Economic growth might well have been considerably weaker, or even negative, without substantial monetary policy support,” Bernanke said. He noted economic research that supported the benefits of the Fed’s bond purchases.
sourcehttps://kirkmanandjourdain.com/67wo682 In response to an audience question, Bernanke criticized legislation pending in Congress that would allow the Government Accountability Office to expand its audits of the Fed to look at decisions on interest rates. The GAO, the auditing arm of Congress, can currently conduct audits of the Fed. But it is prohibited from investigating its interest rate decisions.
go to linksource Bernanke said passage of this legislation would be a bad idea because it would harm the Fed’s independence. He said such independence is necessary to assure markets that the Fed is not being swayed by political interests.
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