Time to Tame the “Apolitical” Fed?

Source: American Institute for Economic Research
by Alexander William Salter

“Writing in the Wall Street Journal, Joseph Sternberg argues that the Fed’s ‘decisions are inherently political and yet its democratic accountability is essentially nil.’ He’s onto something. Our central bank has become increasingly partisan in recent years, and its overall competence has declined. Both in terms of democratic justifiability and macroeconomic stability, we have good reasons to be skeptical of the Fed.” (02/08/24)