SPIEGELONLINE INTERNATIONAL: Humiliation for Mr. Dollar: Ben Bernanke, the chairman of the United States Federal Reserve Bank, faces a general investigation by the International Monetary Fund. Just one more example of the Fed losing its power.
The United States Federal Reserve Bank, or Fed, seems as much a part of America as Coca-Cola or Pizza Hut. But at least one difference has become apparent in recent days. While the pizza chain and soft-drink maker are likely to expand their scope of influence in the age of globalization, the US central bank is finding that its power is shrinking.
No Fed chief in US history has been forced to submit to the kind of humiliation that Ben Bernanke is facing. The Shrinking Influence of the US Federal Reserve >>> By Gabor Steingart in Washington | June 26, 2008
The Dawning of a New Dark Age – Dust Jacket Hardcover, direct from the publishers (US) >>>
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