Author: Cristina Bodea, Professor of Political Science, Michigan State University

The Department of Justice’s decision to open a criminal investigation into Federal Reserve chair Jerome Powell has reignited concern over the independence of the central bank. In unusually blunt remarks, Powell described the unprecedented probe as part of a political attack by the White House over the Fed’s refusal to drastically cut interest rates, as […]

Nearly every country in the world has a central bank – a public institution that manages a country’s currency and its monetary policy. And these banks have an extraordinary amount of power. By controlling the flow of money and credit in a country, they can affect economic growth, inflation, employment and financial stability. These are […]