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Archive Home > 2009 > September > 29 > World Bank chief sees greater role for Treasury Department

World Bank chief sees greater role for Treasury Department

Zoellick opposes more power for Fed, warns of dollar’s diminishment

By Harry Dunphy / The Bulletin
September 29, 2009

WASHINGTON — The president of the World Bank said Monday he opposes giving more authority to the U.S. Federal Reserve, arguing that the Treasury Department is better equipped to manage financial crises.

Robert Zoellick also suggested in a speech that the dollar’s role as the world’s reserve....

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