Bernanke Fights Audit Threat To The Fed.

WASHINGTON -- Federal Reserve Chairman Ben Bernanke faced a grilling in Congress on Tuesday about the role of the Fed, and spoke out strongly against a legislative proposal to audit the central bank. Speaking to the House Financial Services Committee, Bernanke tempered optimism that the economy is improving, noting that, "despite these positive signs, the rate of job loss remains high and the unemployment rate has continued its steep rise." He added the Fed expects inflation to remain subdued over the next two years...Link