David A. Wishnick

Feature

Technocratic Pragmatism, Bureaucratic Expertise, and the Federal Reserve

Congress has given the Federal Reserve broad statutory mandates over the U.S. economy. This Feature articulates a framework, “technocratic pragmatism,” to evaluate how the Fed should structure experiments at the boundaries of its authority to combat complex problems (e.g., global climate change) consistent with demands of legality and accountability.

Feb 3, 2021