Saturday, November 20, 2010

U.S. Geithner Warns Republicans Against Politicizing the Fed

Bloomberg

U.S. Treasury Secretary Timothy F. Geithner said the Obama administration would oppose any effort to strip the Federal Reserve of its mandate to pursue full employment and warned Republicans against politicizing the central bank.

“It is very important to keep politics out of monetary policy,” Geithner said in an interview airing on Bloomberg Television’s “Political Capital with Al Hunt” this weekend. “You want to be very careful not to take steps that hurt our credibility.”

The Republican congressional leadership, including John Boehner, nominated as the next House speaker, has criticized the Fed’s plan to buy $600 billion in assets, saying it would fuel inflation and asset bubbles. Senator Bob Corker, a Tennessee Republican who serves on the Banking Committee, said he favors confining the Fed’s mandate to promoting price stability.

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2 comments:

Anonymous said...

Look at Timmys bio. It says it all.
This guy is a member of the white shoe and
ivy league tie crowd.
http://en.wikipedia.org/wiki/Timothy_Geithner

Anonymous said...

I want what Tiny Timmy's been smoking. Separate politics from monetary policy? LOL

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