It’s Been Done Before” has been written by “Binyamin Appelbaum” and was published on September 11, 2012 in New York Times. (Appelbaum)
This article discusses about the policy changes which Federal Reserve…
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This article also talks about the credibility issues of Fed and whether it acts independently or not in some of its important decisions taken without any significant political influence.
This article is important from the point of view of course material because it not only outlines as to how Fed works but it may also help to get a historical look into the role of Fed in influencing elections. The fact that Fed has made important policy changes during election years may indicate that the monetary policy of the country may not be entirely independently carried out and that the political influence does matter in policy issues.
This article relates to our class room discussions because it provides a practical insight into how Fed can make decisions and how its decisions have been previously influenced by the elections. It also outlines that macroeconomic policies may not be entirely made entirely on merit.
Appelbaum, Binyamin. Economic Stimulus as the Election Nears? It’s Been Done Before. 11 September 2012. 21 October 2012
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