The Myth of Independence

Binder, Sarah & Mark Spindel

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Author
Binder, Sarah & Mark Spindel
Publish Date
20190709
Subtitle
How Congress Governs the Federal Reserve
Book Type
Paperback
Number of Pages
304
Publisher Name
9
ISBN-10
069119159X
ISBN-13
9780691191591
citemno
228072
Edition
Reprint
SKU
9780691191591

Description

An in-depth look at how politics and economics shape the relationship between Congress and the Federal Reserve

Born out of crisis a century ago, the Federal Reserve has become the most powerful macroeconomic policymaker and financial regulator in the world. The Myth of Independence marshals archival sources, interviews, and statistical analyses to trace the Fed’s transformation from a weak, secretive, and decentralized institution in 1913 to a remarkably transparent central bank a century later. Offering a unique account of Congress’s role in steering this evolution, Sarah Binder and Mark Spindel explore the Fed’s past, present, and future and challenge the myth of its independence.