Is There a Relationship Between Central Bank Independence and Inflation?

Ellen Meade is a research professor of economics at Duke University and a veteran of the Federal Reserve System. Most recently, Ellen served as a special advisor to the board and Vice Chair, Richard Clarida. Ellen joins David on Macro Musings to discuss her research on monetary policy and her work at the Federal Reserve. Specifically, Ellen and David discuss the prospect of central bank independence at the Fed and the specter of fiscal dominance, the recent history of secrecy and transparency at the Fed and how that impacts the incentives to dissent, the effect of the Fed’s forward guidance on recent policy events, what lessons from the past two years the Fed should incorporate into its next framework review, and much more.

Transcript for the episode can be found here.

Ellen’s Vox EU profile

Ellen’s Research Gate archive

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Related Links:

*The Evolution of Central Bank Governance Around the World* by Ellen E. Meade and Christopher Crowe

*Central Bank Independence and Transparency: Evolution and Effectiveness* by Ellen E. Meade  and Christopher Crowe

*Publicity of Debate and the Incentive to Dissent: Evidence from the US Federal Reserve* by Ellen E. Meade and David Stasavage