NABBED - No Accountability Ben is BAD

Ben "helicopter" Bernanke, who pushed real interest rates to zero (or negative) is complaining that politicians might push him for lower rates. While he is dropping interest rates he is climbing up the heights of unethical and disingenuous behavior! Then again, he is a banker.

Fed Chief Bernanke Continues to Fight Against Greater Political Scrutiny of Central Bank - WSJ.com: "With Congress getting close to finalizing an overhaul of the nation's financial-regulatory system, Federal Reserve Chairman Ben Bernanke weighed in against provisions in the proposed legislation that would subject the central bank to more political scrutiny.

In a speech at the Bank of Japan on Wednesday, the Fed chief argued before an international audience that central banks independent from politics were better at managing the economy. He also detailed the steps the Fed had taken to become more transparent and accountable to the public, two conditions he said were needed in return for greater independence.

The Fed is waging a battle against a proposal approved by the House in December that would subject the U.S. central bank's decisions to audits by the Government Accountability Office, an investigative arm of Congress.

Mr. Bernanke is strongly opposed to the measure, which is part of the government's broader efforts to overhaul financial regulation.

A central bank subject to political influence could be pressed to keep interest rates low in order to boost the economy and employment, Mr. Bernanke said. While that could be popular at first—and helpful in an election campaign—it will lead to higher inflation in the future, hurting the economy's long-term prospects."