America's next top Fed Chair

In this book, Sarah Binder and Mark Spindel trace the transformation of the Federal Reserve from a weak, secretive, and decentralized institution in 1913 to a remarkably transparent central bank. They argue that recurring cycles of crisis, blame, and reform have propelled lawmakers to create and revamp the Fed's powers and governance. The authors explore the political and economic dynamics that have shaped interactions between Congress and the Fed, demonstrating how these interactions have generated a stronger central bank than initially anticipated. The book challenges the myth of the Fed's independence, showing instead an interdependent relationship between Congress and the Federal Reserve that influences politics, the economy, and financial markets.