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Prophets and Losses

evie10 Wrote: Feb 05, 2013 9:31 AM
useless only to those who cannot understand the point - that the Fed is being held to a lower standard than anyone else while at the same time being held up as a paragon with way too much control of our every day life.
Texas Chris Wrote: Feb 05, 2013 9:42 AM
The Fed has a standard? And when was the audit to which that standard is compared?
Now that the federal government is playing an ever larger role in the economy, a look at Washington's track record seems to be long overdue.

The recent release of the Federal Reserve Board's transcripts of its deliberations back in 2007 shows that their economic prophecies were way off. How much faith should we put in their prophecies today -- or the policies based on those prophecies?

Even after the housing market began its collapse in 2006, Federal Reserve Chairman Ben Bernanke said in 2007, "The impact on the broader economy and financial markets of the problems in the subprime market seems likely to...