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Central Bank Independence

Central Bank Independence

  • Inflation and the Role of Fed Credibility

    Thursday, April 24, 2014

    A Regional Economist article examines U.S. interest rates and inflation to clarify ideas about the Fed's monetary policy and its own credibility. The authors examine four periods: when the Fed operated without credibility, when it was earning credibility, when it was operating with credibility and when it dealt with the aftermath of the financial crisis.

  • Debt, Inflation and Central Bank Independence

    Consider aligning the central bank's objectives closer to the preferences of society and away from those of a non-benevolent government.


  • Central Banker article
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    In Plain English Online Course for Consumers

    Want to learn about the Federal Reserve? Have no fear! In Plain English describes the structure and functions of the Federal Reserve System in an easy-to-understand interactive format.

    More about the In Plain English online course.


  • Independence + Accountability: Why the Fed Is a Well-Designed Central Bank

    In 1913, Congress purposefully created the Federal Reserve as an independent central bank, which created a fundamental tension: how to ensure the Fed remains accountable to the electorate without losing its independence. Over the years, there have been changes in the Fed's structure to improve its independence, credibility, accountability, and transparency.