The Bank for International Settlements, a group representing central banks including the Federal Reserve and the European Central Bank, warned political leaders that they should not expect central ... more 
The Bank for International Settlements, a group representing central banks including the Federal Reserve and the European Central Bank, warned political leaders that they should not expect central banks? cheap-money policy to hold the global economy together forever. The organization, based in Basel, Switzerland, said in its annual report that politicians should finally do their share of ?the hard but essential work of adjustment.? Only a few days ago, the leading Wall Street debate was whether central banks had too much control over the financial markets. Suddenly, the nagging notion is whether central banks are losing, or surrendering, control. A Federal Reserve voting member says the Fed's decision to announce details about when it would trim its bond-buying program was "inappropriately timed." St. Louis Federal Reserve Bank President James Bullard says the Fed should have waited for more "tangible signs" that the economy was strengthening and inflation was closer to the Fed's 2 percent target. less 
1 / 28
Wochit
Sun, Jun 23, 2013 11:50 AM EDT