Singling Out The Fed For Missing The Financial Crisis Is Ludicrous

Critics of the US Federal Reserve are having a field day with embarrassing revelations of its risk assessments on the eve of the financial crisis. By law, the Fed is required to publish the transcripts of its Federal Open Market Committee (FOMC) meetings with a five-year lag. While the full-blown crisis did not erupt until the collapse of Lehman Brothers in September 2008, it was clear by the...