Thread: Economics The "Fed"
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Old 02-23-2014, 10:48 PM   #28
KC native KC native is offline
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Quote:
Originally Posted by scott free View Post
Who is E&Y... why doesn't the fed chairman have to tell Congress where the money is going?

There isn't a real explanation for... why aren't they accountable to Congress... Bernanke had the guts to tell Congress to go pound sand when asked to account for himself, if its all common knowledge thanks to "E&Y", is Congress not privy to the "E&Y" reports?

Why ask Bernanke if its all so readily available and transparent?
The Fed's audited financial statements are at

http://www.federalreserve.gov/moneta...financials.htm

The Fed does tell Congress and everyone else where the money goes. The Fed is very big on signaling their actions (saying what they're going to do before they do it) so markets know what to expect from the Fed.

E&Y is Ernst and Young.
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