Should-Read: Nick Bunker: Policy rules and central bank independence

Should-Read: Nick Bunker: Policy rules and central bank independence: “The general public and their elected officials are not simply passengers on a ship…

…They have a right and an obligation to set the role of the Federal Reserve because the central bank has tremendous influence over the health of the U.S. economy, and it should be bound to hit targets and goals that are set in a democratic manner. But there is room for sensible delegation—not fixing the navigational points regardless of economic conditions…