IDEAS home Printed from https://ideas.repec.org/a/bla/coecpo/v3y1985i5p43-58.html
   My bibliography  Save this article

Politics And The Federal Reserve

Author

Listed:
  • ROBERT D. AUERBACH

Abstract

Evidence presented here supports a two‐part hypothesis that (1) the Federal Reserve is a powerful political entity, not independent of politics, and (2) it preserves its political power by carrying out the monetary policy desired by the President of the United States. This evidence includes the historical record from the Truman to Reagan administrations, politicization of Federal Reserve research, and political lobbying by the Federal Reserve. Formerly secret minutes of the regional Federal Reserve Banks' boards of directors meetings provide source material. The conclusion suggests a more efficient method of translating political signals and a rule for more predictable monetary policy.

Suggested Citation

  • Robert D. Auerbach, 1985. "Politics And The Federal Reserve," Contemporary Economic Policy, Western Economic Association International, vol. 3(5), pages 43-58, September.
    • Handle: RePEc:bla:coecpo:v:3:y:1985:i:5:p:43-58
    DOI: 10.1111/j.1465-7287.1985.tb00821.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1465-7287.1985.tb00821.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1465-7287.1985.tb00821.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Akhand Akhtar Hossain, 2009. "Central Banking and Monetary Policy in the Asia-Pacific," Books, Edward Elgar Publishing, number 12777.
    2. Salter, Alexander W. & Smith, Daniel J., 2019. "Political economists or political economists? The role of political environments in the formation of fed policy under burns, Greenspan, and Bernanke," The Quarterly Review of Economics and Finance, Elsevier, vol. 71(C), pages 1-13.
    3. Ahuja, Rishi & Barrett, Sean & Corbet, Shaen & Larkin, Charles, 2019. "A way forward: The future of Irish and European union financial regulation," Economic Analysis and Policy, Elsevier, vol. 64(C), pages 346-360.
    4. Alexander W. Salter & William J. Luther, 2019. "Adaptation and central banking," Public Choice, Springer, vol. 180(3), pages 243-256, September.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:coecpo:v:3:y:1985:i:5:p:43-58. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/weaaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.