Central banks under duress: an exploration of their responses and potential outcomes
In the latest episode of Planet Money, listeners are taken on a captivating journey to explore the impact of political pressure on central banks and their economies.
The music for this edition, a blend of "Stolen Schematics," "Sun Lounger Chill," and "The Sky Was Orange," is provided by Universal Music Production. The engineering duties were handled by Robert Rodriguez and Maggie Luthar, while Marianne McCune took charge of the editing process.
Three leading central bank watchers are featured in this episode. They include Christine Lagarde, President of the European Central Bank, Paul McCulley, a former Fed expert and Pimco manager, and representatives from the People's Bank of China engaged in gold reserves strategy.
Their goal is to understand the intricate relationship between political pressure and central banks, a topic that has been under scrutiny by observers worldwide for years. In fact, Carolina Garriga's work titled, "Revisiting Central Bank Independence in the World: An Extended Dataset," delves into this very subject.
Another interesting point of discussion is the case for Fed independence during the Nixon era, as documented in one of the available recordings. This is further complemented by Lev Menand's work titled, "A New Measure of Central Bank Independence."
To ensure factual accuracy, the episode was fact-checked by Sierra Juarez. For those interested in learning more about the Federal Reserve's independence, a primer is available for listening.
Lastly, for those who missed the live broadcast, the episode can be listened to for free on popular platforms such as Apple Podcasts, Spotify, the website app, or any other podcast platform. Additionally, a recording titled "A Locked Door, A Secret Meeting And The Birth Of The Fed" is also available.
Planet Money's executive producer, Alex Goldmark, oversees the production of these insightful episodes, with Willa Rubin producing this one with help from Sam Yellowhorse Kesler. Another noteworthy work related to this topic is Carola Binder's "Political Pressure on Central Banks."
This episode serves as a testament to Planet Money's commitment to providing engaging, informative, and thought-provoking content on economic issues that matter. Tune in to learn more about the world of central banking and the role of political pressure in shaping its future.
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