In a front-pager with the promising headline of "Fed's Crisis Role Spurs Questions of Overreach," the Washington Post casually tosses off this paragraph-two axiom:
In the past few months, Fed Chairman Ben S. Bernanke has burst through long-standing boundaries on what the Fed does. Bernanke's actions ? many taken reluctantly ? have repeatedly pulled the world from the brink of financial catastrophe[.]
Really? Bernanke has saved not just the United States but the world from multiple financial catastrophes? I wonder which ones in particular, and how a newspaper goes about confirming such a thing as incontrovertible fact?
When Bernanke took the reins at the Fed, Senior Editor Brian Doherty assembled a team of worthies to ask: Can we bank on the Federal Reserve?
Start your day with Reason. Get a daily brief of the most important stories and trends every weekday morning when you subscribe to Reason Roundup.