3/30/2009

Federal Reserve Chairman Ben Bernanke is concerned that the agency's work with the White House to resolve the financial crisis might lead to political pressure that could delay the Fed's efforts to battle inflation. To relieve those concerns, the Fed and the U.S. Treasury released a statement on each agency's responsibilities. "This is all about independence," said Laurence Meyer, vice chairman of Macroeconomic Advisers. "Even though the Fed is cozying up to the Treasury, it is important to know that the Fed would maintain some stability over monetary policy."

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