Blaming the Fed
Critics of the Federal Reserve are having a field day with embarrassing revelations of its risk assessments on the eve of the financial crisis. But, while it is legitimate to criticize individual policymakers, their poor judgment does not impugn the entire institution.
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FRANKFURT – Critics of the US Federal Reserve are having a field day with embarrassing revelations of its risk assessments on the eve of the financial crisis. By law, the Fed is required to publish the transcripts of its Federal Open Market Committee (FOMC) meetings with a five-year lag.