Frank: ‘Republicans Join Central Bank of China’

Discussion in 'Wall St. News' started by ASusilovic, Nov 22, 2010.

  1. Rep. Barney Frank, the Massachusetts Democrat who chairs the House Financial Services Committee, accused Republicans on Monday of siding with Chinese central bankers in their attacks on the U.S. Federal Reserve.

    “The Republicans are joining the Central Bank of China in criticizing [Fed Chairman] Ben Bernanke,” Mr. Frank said Monday during an interview on Bloomberg Television. “This is really distressing to me.”

    Mr. Frank was defending this month’s decision by the Fed’s policy committee, the Federal Open Market Committee, to buy as much as $600 billion in Treasury debt, a move that has been criticized by central bankers in other countries.

    If you are still unsure about what this QE II is all about. Not about jobs, not about inflation. It´s about China. Nothing else!