Congressman Barney Frank today released the following statement in response to the announcement by the Federal Reserve that it would take further action to aid economic recovery.
It is welcome and entirely appropriate that the Federal Reserve acted today to take aggressive additional steps to support economic recovery. Unemployment is still much too high and, as the Open Market Committee noted, the economy still faces strong headwinds.
But it is unfortunate that Republicans already have expressed disappointment in this action and are clearly upset that they were unable to intimidate the Fed into putting partisan politics ahead of national economic interests.
It should be noted that Ben Bernanke was appointed to important positions by former President George W. Bush -- Chairman of the Council of Economic Advisors, and then as Chairman of the Federal Reserve.