> it keeps the board focused on long term performance of monetary policy instead of focusing on the next election.
The neutral dispassionate bureaucrat is a unicorn. One might exist but I won't bet on Diogenes ever finding them. It would be a strange alchemy for political appointees to transmutate into unbiased technicians. As with SCOTUS, a longer term is mostly a longer period to apply partisan values.
The neutral dispassionate bureaucrat is a unicorn. One might exist but I won't bet on Diogenes ever finding them. It would be a strange alchemy for political appointees to transmutate into unbiased technicians. As with SCOTUS, a longer term is mostly a longer period to apply partisan values.