WASHINGTON -- Federal Reserve Chairman Ben Bernanke glided smoothly through his first regular news conference the other day -- an event both remarkable and unremarkable. It was remarkable for symbolizing the Fed's ongoing transformation from a citadel of secrecy into an agency that tries to explain itself to the public. "The original attitude ... was that it was no one's business what they did -- and if you wanted to figure it out, do so yourself," says economist Allan Meltzer, author of a history of the Fed. Until now, there had been no news conferences, a legacy of the...
Source: http://www.realclearpolitics.com/articles/2011/05/02/bernankes_bet_109712.html
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