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Reuters Breakingviews) - The U.S. Federal Reserve can be a dry topic. Danielle DiMartino Booth makes it anything but. Her new book "Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America,"
The Fed isn't, however, quite the dominant cause of America's problems that she suggests. Bank executives and those in charge of fiscal policy, for instance, deserve a hefty share of the blame.
But Booth highlights the danger of central bankers being seen as almost omnipotent when the record shows their fallibility. The loss of humility is a constant risk. She quotes a Lithuanian central banker: "We are magic people. Each time we take something and give to the markets – a rabbit out of the hat." That's a sentiment Yellen and her peers should strive to resist.