175 clowns from the Keynesian Hokus Pokus school of economics are signing a petitionSubmitted by soule on Wed, 07/15/2009 - 16:08
175 clowns from the Keynesian Hokus Pokus school of economics are signing a petition to keep the fed secretive (They call it independent). These clown think the FED should do what it sees fit with our tax dollars!!!!
I smell some hired lobbyists rallying the clowns and sheeple against H.R. 1207 and S. 604.
PLEASE, DON'T FORGET TO LEAVE YOUR OPINION IN THE COMMENTS SECTION.
By WSJ Staff
The following is a petition calling for a commitment to Fed independence:
Open Letter to Congress and the Executive Branch
Amidst the debate over systemic regulation, the independence of U.S. monetary policy is at risk. We urge Congress and the Executive Branch to reaffirm their support for and defend the independence of the Federal Reserve System as a foundation of U.S. economic stability. There are three specific risks that must be contained.
First, central bank independence has been shown to be essential for controlling inflation. Sooner or later, the Fed will have to scale back its current unprecedented monetary accommodation. When the Federal Reserve judges it time to begin tightening monetary conditions, it must be allowed to do so without interference. Second, lender of last resort decisions should not be politicized.
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