WASHINGTON (AP) — Seeking firmer footing for U.S.-India relations, President Barack Obama tried Tuesday to calm India’s fears about Asian rival China, salving bruised feelings in the world’s largest democracy with an elaborate state visit and assurances of India’s “rightful place as a global leader.”…
Suddenly the Federal Reserve is everybody’s punching bag.
Strip the Fed of its bank regulation powers, some in Congress are demanding. Get probing audits of its behind-the-scenes operations, others say.
The chairman of the Federal Reserve Board is always fair game for criticism and second-guessing, usually over interest rate actions. But this year the criticism is much broader as Congress responds to widespread public anger that the Fed bailed out Wall Street but not ordinary Americans, and with unemployment in double digits.