Fed's governance structure should be revisited
The conventional model of central bank independence may need to be revisited given the unprecedented expansion of the Federal Reserve's balance sheet, new research from the International Monetary Fund notes.
The research posits that such a move could lead to adjustments in Fed's governance structure and changes to its financial model. The research suggests keeping the Fed's monetary-policy mandate with the Federal Open Market Committee and ensuring that it has its own balance sheet isolated from
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