The line between oversight and direct involvement in the conduct of policy is perhaps crossed when the Congress passes or even introduces a resolution or legislation that gives specific direction to raise or lower interest rates and, especially, when such directions are accompanied by proposed legislation that would reduce the independence of the Federal Reserve.
Seongtae Lee: Overview of the Korean economy New Year speech by Mr Seongtae Lee, Governor of the Bank of Korea, at the Bank of Korea, Seoul, 4 January 2010. *  *  *  Fellow members of the Bank of Korea, Today, the first business day of 2010, we renew our hopes and resolutions.