$600bn into the US economy
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Nov20-10, 12:06 PM
It seems Mr. Geithner has an opinion.
"Geithner also warned Republicans about politicizing the Federal Reserve. A number of conservative economists and Republicans in Congress have attacked the central bank for its decision to launch a new round of $600 billion in purchases of Treasury securities as a way to lower long-term interest rates. They warn this effort runs the risk of weakening the value of the dollar and setting off higher inflation down the road.
Asked about this criticism, Geithner said,
"It is very important to keep politics out of monetary policy, as Congress recognized when it established the Fed."
Geithner said it was essential that policymakers "respect and honor what the Congress did when it set up our independent central bank with a mandate to keep prices low and stable over time and to make sure ... they are promoting sustainable economic growth.""
Geithner is absolutely right there, at least in word. So why the