1.
Q Rev Econ Finance
; 2020 Oct 14.
Artigo
em Inglês
| MEDLINE
| ID: mdl-33071531
RESUMO
The Federal Reserve is exposed to a greater degree of political influence under its new operating regime. We survey the relevant literature and describe the Fed's new operating regime. Then we explain how the regime change reduced de facto central bank independence. In brief, the regime change increased the appointment power of the President and improved the bargaining power of Congress. We offer some suggestions for bolstering de facto independence at the Fed.