Thursday, October 18, 2018

Fed Up

As Trump slams Fed, its policymakers are tuning him out — and moving ahead with rate hikes [More]
OK, so who are they accountable to?

Posted by David Codrea at 10/18/2018 08:50:00 AM

1 comment:

Archer said...

Who is the Fed accountable to?

Nobody. That's the point. That's why the Fed Chairman is appointed (not elected) to a 14 year term of office. On paper, the long term of service is to keep the Chairman independent of and more stable than shifting political cycles.

In practice, the Fed Chairman is still human, and just as susceptible to changing political winds, but without the specter of accountability under which elected "officials" operate.

10/18/2018 12:03 PM

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