With uncharacteristic bluntness, Federal Reserve Chairman Ben S. Bernanke warned Congress on Wednesday that the United States could soon face a debt crisis like the one in Greece, and declared that the central bank will not help legislators by printing money to pay for the ballooning federal debt.
The growing speculation is that Federal Reserve has been participating in the bond auctions through anonymous, direct bidding. The Fed's reputation for opaqueness, coined as Greenspeak, will do little to alter this speculation despite the blunt talk.
Source: washingtontimes.com
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