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.
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|Other Independent Review articles by Peter J. Boettke|
|Fall 2017||A Legacy of Lies and Lost Souls|
|Winter 2016||Pessimistically Optimistic about the Future|
|Winter 2014||Fearing Freedom|
|[View All (6)]|