Jump to ContentJump to Main Navigation
Deliberating American Monetary PolicyA Textual Analysis$
Users without a subscription are not able to see the full content.

Cheryl Schonhardt-Bailey

Print publication date: 2013

Print ISBN-13: 9780262019576

Published to MIT Press Scholarship Online: May 2014

DOI: 10.7551/mitpress/9780262019576.001.0001

Show Summary Details
Page of

PRINTED FROM MIT PRESS SCHOLARSHIP ONLINE (www.mitpress.universitypressscholarship.com). (c) Copyright The MIT Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in MITSO for personal use.date: 27 May 2022

Congressional Committees and Monetary Policy

Congressional Committees and Monetary Policy

(p.197) 4 Congressional Committees and Monetary Policy
Deliberating American Monetary Policy

Cheryl Schonhardt-Bailey

Andrew Bailey

The MIT Press

This chapter analyses the monetary policy oversight hearings of the two congressional banking committees from 1976 to 2009 (as well as the reconfirmation hearings for Volcker, Greenspan and Bernanke) in order to assess how well Congress holds the Fed to account for its decisions on monetary policy. Surprisingly, partisan ideology plays very little role when it comes to effective monetary policy oversight. Decade after decade, Fed chairman after Fed chairman, one feature is, however, evident in the discourse between central bankers and US legislators: Fed chairmen tend to talk about the technicalities of monetary policy while senators and representatives talk about other things, such jobs, fiscal policy, energy policy, education, and so on. All too often they simply talk past one another.

Keywords:   Congress, Senate Banking Committee, House Financial Services Committee, Motivations of Members of Congress, Monetary policy

MIT Press Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.