You may disagree with Trump on a lot of things, but he’s not wrong to recognise that monetary policy – a subject that can seem dull and horribly technical – is fundamentally political, and tells us a lot about democracy.
Last week, Donald Trump reignited a debate about who should be in charge of the monetary system that controls a country’s interest rates.
| Leah Downey The US president has recognised something that is rarely acknowledged: monetary policy is political.
But perhaps they simply uncovered a fact that was always there – that monetary policy is not as apolitical as some would like people to believe.
In the 1990s, central bankers hailed the “great moderation”, a period of low and stable prices dominated by central bank independence.
