By Around the Web In “Federal Reserve Independence in the Aftermath of the Financial Crisis: Should We Be Worried?” former Federal Reserve Vice Chairman Donald Kohn writes that Federal Reserve independence is at risk, thanks to the dramatic actions that it had to take during and after the global financial crisis. Kohn says keeping the central bank independent from elected politicians is crucial: Across time and across countries, there’s plenty of evidence that less independence leads to more inflation. Kohn lists four risks to the Fed’s independence: Political……(read more)
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