读《FT·金融时报》学英语：《美联储的权力与独立性》

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Sebastian Mallaby
Author of The Man Who Knew: The Life and Times of Alan Greenspan
《知者：格林斯潘传》作者

Peter Conti-Brown's The Power and Independence of the Federal Reserve (Princeton) is a study of what might be called the Fed's unwritten constitution.Nowhere is the central bank's independence encoded in law; it is a convention, and a fragile one.
彼得·康迪-布朗的《美联储的权力与独立性》研究了什么是美联储“不成文的金规玉律”。在法律中，央行的独立性无迹可寻——这是一个惯例，同时却又是脆弱的。

At times the Fed has enjoyed a high degree of independence, as it did during the Eisenhower and Kennedy administrations.At other times hostile presidents have brought the central bank to heel.For today's Fed leaders, it is a sobering lesson.
美联储曾经不时享受高度的独立性，譬如在艾森豪威尔和肯尼迪执政期间。其余时候，和它站在对立面的总统能让央行俯首听话。对于今日的美联储领导者，这本书是发人深省的一课。