U.S. Hesitant To Give Fed More Authority, Says World Bank President

World Bank Group President Robert Zoellick says "It should not be a surprise that American democracy is hesitating about authorizing the Fed to supervise systemic banking risks as well as operate monetary policy, adding to its power." (0:12)
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World Bank President Suggests Less Authority For Federal Reserve

Regarding the Federal Reserve's power, World Bank Groups President Robert Zoellick asks, "Will democratic governments permit independent central banks to assume even more authority?" Zoellick adds that "Congress felt surprised about the Federal Reserve's authority to create funds, buy assets, devise global swap lines and make transactions outside the usual process for expending public monies." (00:13)
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To save the global economy, we must work together

World Bank President Robert Zoellick explains how countries should coordinate in their response to the global economic crisis.
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