Readers may know that tomorrow at 2:30 PM, Ben Bernanke is hosting the first press conference ever held by a Federal Reserve chairman ever. It’s remarkable that an official widely described as “the second most powerful person in America” has managed to sidestep basic measures of accountability to the public and transparency like this for so long.
We are participating in an effort spearheaded by the Dylan Ratigan show to crowdsource questions for reporters tomorrow. Please post your suggested questions in comments below. Members of the Twitterati, please use hashtag #FedSpeaks to tag your question.
I’d like to toss in the question I posed to Larry Summers:
Given the extraordinary level of support extended to major banks during the crisis and now, via measures like super low interest rates and continued regulatory forbearance, why does the Fed continue to maintain the fiction that they are private companies? Why doesn’t the Fed treat them as humble utilities and regulate them accordingly?