Macro Musings with David Beckworth cover image

Jeffrey Lacker on Governance at the Federal Reserve

Macro Musings with David Beckworth

CHAPTER

Differentiating Credit Operations and Monetary Policy

The chapter discusses the separation of the Federal Reserve's credit operations from monetary policy and suggests that credit policy should be handled by the Treasury. It also examines the Fed's involvement in political deliberations and the potential compromise of its independence.

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