Populism and the Future of the Fed

The distinguished contributors to Populism and the Future of the Fed examine populist demands to expand the Fed’s mandate and the threat to the demarcation between fiscal and monetary policy.  All the essays, except those by Charles Plosser and me, stem from Cato’s 39th Annual Monetary Conference,…

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In December 1946, Clark Warburton published an article in the Political Science Quarterly titled, “Monetary Control under the Federal Reserve Act,” which was reprinted in chapter 14 of his landmark book, Depression, Inflation, and Monetary Policy (1966). He argues that the Federal Reserve’s failure to prevent the…

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The Fed's long-awaited report on central bank digital currencies is finally out. Although the report makes it clear that the Fed has no immediate plans to issue a digital currency, it does point to the approach the Fed would be inclined to take were it to do…