And this one: "We are an agency of the government, but we're - within the government we need to have some independence from Congress and the administration, and the most important area is monetary policy."
The Fed is NOT a government agency. It is a cartel of private banks and families that own the system and 'lend' the USA it's own money, from which they make a handsome GUARANTEED return.
Time and again during this meeting, Bernanke stressed that the Fed needed to stay independent from the Congress.... Meaning, "Trust us," but don't verify what we are saying and for damn sure don't ask for that audit.
When 19th Century con artists were shown to be frauds, they were caught, painted with tar and covered in feathers. Or worse.
Isn't it about time to expose these 21st Century swindlers for what they are?
Funny, but not one question about what happened to that 23 TRILLION the Fed gave to its buddies. Wonder why? The last time I saw so many softballs pitched was during a tournament.
The full transcript of 'Bennie's' lies, distortions and obfuscations are at At Forum, Bernanke Defends Fed's Aggressive Moves