Ethical behavior gives public confidence in Fed, Yellen says


So how come the Fed opposes being audited by Congress?

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By David Harrison
The Wall Street Journal
Tuesday, November 7, 2017

Federal Reserve Chairwoman Janet Yellen said Tuesday that ethical behavior from the Fed allows the public to trust it is acting on its behalf.

"The Federal Reserve's very effectiveness in setting monetary policy depends on the public's assured confidence that we act only in its interest," she said. "We must act ethically and we must demonstrate our ethical standards in ways that leave little room for doubt."

Ms. Yellen spoke at a ceremony honoring her and her predecessor at the central bank, Ben Bernanke. She did not discuss the economy or monetary policy in her remarks.

The award from the Institute of Government and Public Affairs at the University of Illinois honors ethics in government and is named after the late Sen. Paul Douglas of Illinois, who devoted his political career to rooting out government corruption.

... For the remainder of the report:


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