CSPAN Politics Public Policy Today July 28, 2012
so, central banks are set up as a best practice with political insulation. the reason bernanke opposes this legislation is that he says you can imagine election years -- i do not think this is hard -- where the fed has to raise interest rates because that is where they see the economy, or they are keeping them steady. a politician -- politicians decide they do not like it and they will get your document and find ways to embarrass you or ought to you. they use that as a way to apply political pressure. it has an undesirable outcomes for the economy. that is the specific issue being ta...