Peter Conti-Brown on the Complexity of the Idea of “Independence” of a Central Bank,

… Fed insiders and interested outsiders form relationships using law and other tools to implement a wide variety of specific policies. To understand more, we need to specify the insider, the outsider, the mechanism of influence, and the policy goal.
— Peter Conti-Brown on the complexity of the idea of “independence” of a central bank, writing in  The Power and Independence of the Fed, “Introduction.”