The illusion of economic stability

Commentary: A losing battle to control banking system

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The Fed has succeeded in holding down Treasury and mortgage rates, but that is the only clear accomplishment by government so far this year.

A grand debate began last week between those who see Federal Reserve Chairman Ben Bernanke’s "green shoots" and those who don’t. The Fed’s Beige Book summary described a "moderation in the pace of decline … some sectors stabilizing at a low level."