November’s issue of the Cleveland Clinic Journal of Medicine contains a review on the links between anemia and heart failure. Anemia occurs with increased frequency in heart failure by a variety of mechanisms, and is associated with increased mortality. There is evidence to support treatment of anemia in heart failure with iron and erythropoietin, but the level of evidence is low and does not support a firm recommendation.
There has been a lot of recent noise about anemia and heart failure. This review sums it up nicely and is worth reading in its entirety.