By Rand Paul
Obama acts as though we no longer have a Constitution
Chairman Ben Bernanke offered a wide-ranging defense Monday of the Federal Reserve's bold policies to stimulate the still-weak economy.
A quiet day on Wall Street turned into the worst sell-off in three months after a Federal Reserve official said he doubted the bank's effort to boost economic growth would work.
The Federal Reserve's second-highest ranking official on Monday said the economy is not strong enough for the Fed to begin tightening credit, countering a vocal minority of members who argue the central bank's stimulus programs are contributing to higher inflation.
Charles Plosser, president of the Fed's Philadelphia branch, expressed doubts that the Fed's latest stimulus efforts would work.
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