Warsh acknowledges Fed’s quasi-fiscal action
A governor of the Federal Reserve has suggested that the central bank may have taken actions that would have been more properly done by the US Treasury, and has called for a reassessment of its scope post-crisis.
Several commentators, including regional Fed presidents Jeffrey Lacker and Charles Plosser, have criticised some the Fed's crisis-fighting measures, labelling them "risky fiscal actions".
However, the Washington-based Fed board of governors, which approved many of the crisis-fighting
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