Ideas of Globalisation: Central Banks vs the People (and Trump!)
Past Present Future
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The Shift to Central Bank Independence: Lessons from the 1970s
This chapter examines the pivotal transition to central bank independence in the late 1970s, contrasting it with Britain's previous political control over monetary policy. It highlights the impact of the oil crisis on this shift, as elected officials sought to avoid economic blame by transferring monetary decisions to the Federal Reserve.
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