Monetary Policy as If Inflation Hardly Matters.

The article reviews Leah Downey's "Our Money: Monetary Policy as If Democracy Matters," which argues for stronger congressional control over the Federal Reserve to democratize monetary policy, even at the expense of low inflation or conventional economic efficiency. Topics include central bank indep...

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Published in:Independent Review Vol. 30; no. 3; pp. 521 - 532
Main Author: WHITE, LAWRENCE H.
Format: Literary Criticism
Published: Independent Institute Winter2025/2026
Subjects:
Online Access:View this record in EBSCOhost
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        atl: Monetary Policy as If Inflation Hardly Matters.
      aug:
        au: WHITE, LAWRENCE H.
        affil: Emeritus professor of economics at George Mason University
      su:
        Board of Governors of the Federal Reserve System (U.S.)
        Legislative oversight
        Price inflation
        Monetary policy
        Inflation targeting
        Political economic analysis
        Democratization
        Paper money
      sug:
        subj:
          Legislative oversight
          Price inflation
          Board of Governors of the Federal Reserve System (U.S.)
          Public Finance Activities
          Monetary policy
          Inflation targeting
          Political economic analysis
          Democratization
          Paper money
      ab: The article reviews Leah Downey's "Our Money: Monetary Policy as If Democracy Matters," which argues for stronger congressional control over the Federal Reserve to democratize monetary policy, even at the expense of low inflation or conventional economic efficiency. Topics include central bank independence, congressional oversight, fiat money, inflation targeting, and the political economy of monetary policy.
      pubtype: Academic Journal
      doctype: Literary Criticism
      src: R
    language: English
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