Monetary Politics The Federal Reserve and the Politics of Monetary Policy [Paperback]

The first book to describe and analyze the complex relationships between the Federal Reserve and the President, the Congress, bankers, and economists. Professor Woolley demonstrates that the Federal Reserve is very sensitive to a wide range of political influences.The first book to describe and analyze the complex relationships between the Federal Reserve and the President, the Congress, bankers, and economists. Professor Woolley demonstrates that the Federal Reserve is very sensitive to a wide range of political influences.This is the first book to describe and analyze the relationships between the Federal Reserve and the president, Congress, bankers, and economists. Far from being politically independent, the Federal Reserve is shown to be sensitive to a wide range of political influences.Preface; 1. The Federal Reserve and the politics of monetary policy: introduction and overview; 2. A capsule history of the Federal Reserve system; 3. Recruitment and selection of Federal Reserve personnel; 4. Bankers and the Federal Reserve; 5. Economists and the Federal Reserve; 6. The president and the Federal Reserve; 7. Congress and the Federal Reserve; 8. Making monetary policy in a political environment: the election of 1972; 9. Monetary politics: a summary; Appendixes; Experiences of notable monetarists; Notes; Bibliographic note; Index.'Monetary Politics is a valuable addition to the literature because of its attention to the monetary side of the political business cycle and for its institutional analysis.' American Political Science Review'Woolley's study is a refreshing alternative to both the short-term preoccupations with market movements and the trivialisation of the analysis of political influences & This is a scholarly study, well documented at every point. It is essential reading to anyone who wants to understand monetary policy making in the United States in its full institutional context.' The Banker'A major contribution to the literature on American governmentlӜ