Fed Transparency Should Precede Bernanke Confirmation | Dean Barker and Mark A. Calabria | Cato Institute: Commentary

Fed Transparency Should Precede Bernanke Confirmation | Dean Barker and Mark A. Calabria | Cato Institute: Commentary: "The Fed has directly lent more than $2 trillion to financial and non-financial institutions in the last two years. It has guaranteed trillions more. It is also fair to say that few individuals and institutions played as large a role in the economy leading up to the crisis than Ben Bernanke and the Federal Reserve.

However, at the moment Congress lacks the independent and objective analysis needed to fully assess Bernanke's performance and therefore to make an informed judgment as to whether he deserves re-appointment. For this reason, Congress should put off a vote on Bernanke's nomination until there has been a full audit of the Fed's actions preceding and during the crisis."