This US survey examines: (a) Giving the President more direct influence over monetary policy would lead to substantially worse monetary policy decisions; (b) Imposing tariffs results in a substantial portion of the tariffs being borne by consumers of the country that enacts the tariffs, through price increases; (c) There is little empirical evidence that price gouging is causing high grocery prices; (d) Widespread use of price controls creates substantial economic distortions
Keyword: political appointments
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This week’s IGM European Economic Experts Panel statements:
Selecting candidates for membership of the ECB Executive Board based primarily on nationality ahead of competence is likely to have a negative effect on the quality of monetary policy in the Eurozone.
Although the central bank can never be an entirely technocratic institution, the selection process for the ECB President and members of the Executive Board is significantly worsened by intergovernmental trade-offs involving appointments to other European institutions.
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