Yes, Fox on 15th Street strikes again. The Washington Post reported on a letter signed by more than 250 economists that warned against efforts to make the Fed more accountable to Congress. Remarkably, it has never seen fit to note the main item that would lead to more accountability: a bill sponsored by representatives Ron Paul and Alan Grayson, which would require the Government Accountability Office to audit the Fed. This measure, which is supported by both the most progressive and most conservative members of the House, has the support of more than 250 members of the House.
--Dean Baker
