How can central banks balance authority with accountability?
A central bank needs authority and a sphere of independent action. But a central bank cannot become an unelected czar with sweeping, unaccountable discretionary power. How can we balance the central bank’s authority and independence with needed accountability and constraints?
Drawn from a 2015 Hoover Institution conference, this book features distinguished scholars and policy makers discussing this and other key questions about the Fed. It offers insightful analysis on central bank reforms, governance, oversight, and the role of monetary policy. This book is for economists, policymakers, academics, and anyone interested in central banking and monetary policy.