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The Myth of Independence
How Congress Governs the Federal Reserve
Book • 2017
In this book, Sarah Binder and Mark Spindel trace the transformation of the Federal Reserve from a weak, secretive, and decentralized institution in 1913 to a remarkably transparent central bank.
They argue that recurring cycles of crisis, blame, and reform have propelled lawmakers to create and revamp the Fed's powers and governance.
The authors explore the political and economic dynamics that have shaped interactions between Congress and the Fed, demonstrating how these interactions have generated a stronger central bank than initially anticipated.
The book challenges the myth of the Fed's independence, showing instead an interdependent relationship between Congress and the Federal Reserve that influences politics, the economy, and financial markets.
They argue that recurring cycles of crisis, blame, and reform have propelled lawmakers to create and revamp the Fed's powers and governance.
The authors explore the political and economic dynamics that have shaped interactions between Congress and the Fed, demonstrating how these interactions have generated a stronger central bank than initially anticipated.
The book challenges the myth of the Fed's independence, showing instead an interdependent relationship between Congress and the Federal Reserve that influences politics, the economy, and financial markets.
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Mark Spindel as a book co-authored with Sarah Binder, detailing the interdependence of the Federal Reserve and the political branches.
Mark Spindel as a book co-authored with Sarah Binder, detailing the interdependence of the Federal Reserve and the political branches.
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How To Monetize Government Policy | Mark Spindel
