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Back to the roots: On the origins of the Fed's independence

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  • Farvaque, Etienne

Abstract

This note considers the foundations of the Federal Reserve Board's independence. Its origins are shown to reside in the American political philosophy, under which independence is an essential working condition for a perennial democracy.

Suggested Citation

  • Farvaque, Etienne, 2010. "Back to the roots: On the origins of the Fed's independence," MPRA Paper 24199, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:24199
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    File URL: https://mpra.ub.uni-muenchen.de/24199/1/MPRA_paper_24199.pdf
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    References listed on IDEAS

    as
    1. Timberlake, Richard H., 1993. "Monetary Policy in the United States," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226803845, December.
    2. Reagan, Michael D., 1961. "The Political Structure of the Federal Reserve System," American Political Science Review, Cambridge University Press, vol. 55(1), pages 64-76, March.
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    More about this item

    Keywords

    Federal Reserve Board; independence; constitution.;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative

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