Senator condemns Fed

A US Senator has attacked Federal Reserve policy and called on Washington to deprive the central bank of some of its rate-setting responsibility.

Addressing the Senate Banking Committee to which Ben Bernanke, the chairman of the Fed, had just presented his bi-annual Monetary Policy Report, Jim Bunning, a senator for Kentucky, labelled the central bank untrustworthy and said that its monetary policy was "a leading cause of the mess we are in". The senator added that the Fed's calls for more po