Why the secrecy of Monetary Policy at the Fed?

Maybe a better questions is, “why is a secretive cabel of bankers permitted to set monetary policy when it impacts the honest consumer, oftentimes, in a very negative way?

“The U.S. Treasury Department, its Exchange Stabilization Fund, and the Federal Reserve should be required to publicize simultaneously every financial transaction they make, directly or through intermediaries, including all trades executed through the trading room of the Federal Reserve Bank of New York. Fear of disclosure of its market interventions is what long has induced the Fed to oppose legislation for a comprehensive audit of its activities.” Chris Powell http://www.gata.org/node/16061

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