Eric Beinhocker and David Hendry respond in a Bloomberg piece to recent proposals in the US Congress to curtail the independence of the Federal Reserve.
U.S. legislators have a radical plan for the Federal Reserve, one of the world's most powerful policy-making institutions: They want to remove human judgment from its decisions on where to set interest rates. INET Oxford Executive Director Eric Beinhocker and Professor Sir David Hendry, Director of the Economic Modelling Programme argue in a Bloomberg View piece that it's a terrible idea that could endanger the entire global economy. Read the piece here.