Fed Crisis Legacy Shows It’s the People’s Bank: Matthew Winkler
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Americans can take comfort knowing that Congress and the courts affirmed what may prove the most reassuring legacy of the worst financial disaster of our time: The Federal Reserve is the people’s bank and obligated to share what it knows and does with the citizenry it serves.
When the Supreme Court last month decided to leave intact a lower court’s order, it validated the notions that transparency is an essential requirement of democracy and that the Fed is no less accountable than any other institution in our government.