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.
An Episodic History of Modern Fed Independence
By Peter J. Boettke
This article
appeared in
the Summer 2015 issue of The Independent Review.
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(22 pages)
| Other Independent Review articles by Peter J. Boettke | ||
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