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

Kevin Warsh is now likely to secure Senate approval as the next Federal Reserve chair – and become arguably the most powerful central banker in the world. But when Warsh appeared before the Senate Banking Committee for his confirmation hearing in April, one punchy question underscored the dilemma that Warsh, lawmakers and the Fed all […]

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 […]