Officials at the Federal Reserve are trying to rebut criticism from lawmakers in an attempt to maintain the central bank's independence and regulatory authority. Fed Chairman Ben Bernanke and other officials reiterated their commitment to transparency to fend off attacks that the central bank is too secretive. "The notion that the Federal Reserve's financial dealings are somehow kept hidden from the public is a surprisingly widely held view -- and it is simply incorrect," said Federal Reserve Bank of New York President William Dudley.

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