Sunday, December 4, 2011

The Fed seems a bit touchy these days

Specifically, Federal Reserve Bank of Richmond.

The Richmond Fed is out with a some of videos that, shall we say, may seem just a bit defensive.

One is The Fed Doesn't Print Money.

"The Fed doesn't print money. But we do issue currency, distribute it, and store it..."

Another is The Fed Is Not Controlled by Wall Street

"Directors are selected by banks within their communities and the Fed's board of governors..."

And then there's The Fed is Audited.

"However, monetary policy deliberations like those that consider the target federal funds interest rate are not audited by the GAO..."

Is anyone buying the messages here? Are you now feeling warm and fuzzy about the Fed?

No comments:

Post a Comment