Despite many steps taken to ensure its independence, the Federal Reserve still succumbs to political pressures. This pessimistic conclusion is consistent with both empirical studies and an anecdotal analysis of the tenure of each modern Fed chairperson from William Martin to Ben Bernanke.
Read the Full Article
(PDF, 22 pages)
|Other Independent Review articles by Peter J. Boettke|
|Winter 2019||Stephen Margoliss Contributions to Economics and Political Economy|
|Fall 2018||Gordon Tullock, Praxeology, and the Qualities of a Natural-Born Misesian|
|Fall 2017||A Legacy of Lies and Lost Souls|
|[View All (8)]|