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The Myth of Independence : How Congress Governs the Federal Reserve by Binder, Sarah ;Spindel, Mark is a nonfiction available to read on EtoBox.

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Born out of crisis a century ago, the Federal Reserve has become the most powerful macroeconomic policymaker and financial regulator in the world. __The Myth of Independence__ traces the Fed’s transformation from a weak, secretive, and decentralized institution in 1913 to a remarkably transparent central bank a century later. Offering a unique account of Congress’s role in steering this evolution, Sarah Binder and Mark Spindel explore the Fed’s past, present, and future and challenge the myth of its independence. Binder and Spindel argue that recurring cycles of crisis, blame, and reform propelled lawmakers to create and revamp the powers and governance of the Fed at critical junctures, including the Panic of 1907, the Great Depression, the postwar Treasury-Fed Accord, the inflationary episode of the 1970s, and the recent financial crisis. Marshaling archival sources, interviews, and statistical analyses, the authors pinpoint political and economic dynamics that shaped interactions between the legislature and the Fed, and that have generated a far stronger central bank than anticipated at its founding. The Fed today retains its unique federal style, diluting the ability of lawmaker

Who reads The Myth of Independence : How Congress Governs the Federal Reserve?

Author

Binder, Sarah ;Spindel, Mark

Publisher

Princeton University Press Two Rivers Distribution [Distributor

Published

2018

Language

EN

ISBN

9780691191591

Category

nonfiction

Subjects

Business, History, Political Science