Bernanke Defends Fed From Claims It Is Being Selfish

Reuters reports that the Federal Reserve chairman, Ben S. Bernanke, defended the central bank’s monetary policy on Sunday from claims that it was hurting the economies of emerging countries...... Mr. Bernanke has often defended Fed actions against domestic critics, who argue the policy of keeping interest rates near zero while ramping up asset purchases hurts savers and risks future inflation. But in a speech here, he addressed critics abroad by saying that stronger growth in the United States bolsters global prospects as well, countering the likes of Guido Mantega, the Brazilian finance minister, who has labeled the Fed’s latest stimulus effort “selfish.”..... Critics say the Fed’s unorthodox policies weaken the dollar and bolster the currencies of developing countries, hurting their ability to export............................................................................ Read more at http://www.nytimes.com/2012/10/15/business/bernanke-defends-fed-from-claims-it-is-being-selfish.html?ref=business&_r=0