Peterson Institute's Posen on Fed Chair Contenders

The transcript discusses the selection of the Federal Reserve Chair, highlighting the potential political influence on monetary policy. It examines historical examples, such as Arthur Burns and Alan Greenspan, and debates the independence of the Fed Chair. The urgency of Janet Yellen in unwinding the balance sheet is also discussed, along with concerns about the politicization of the Federal Reserve. The conversation touches on inflation rates and the potential for political accommodation in financial regulation.

In what ways does the text suggest that the Fed's independence is compromised?

What role do the bank presidents play in the Federal Reserve's decision-making process?

How does the discussion reflect on the effectiveness of past Fed chairs in relation to political pressures?