讀《FT·金融時報》學英語：《美聯(lián)儲的權力與獨立性》

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Sebastian Mallaby
Author of The Man Who Knew: The Life and Times of Alan Greenspan
《知者：格林斯潘傳》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《美聯(lián)儲的權力與獨立性》研究了什么是美聯(lián)儲“不成文的金規(guī)玉律”。在法律中，央行的獨立性無跡可尋——這是一個慣例，同時卻又是脆弱的。

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.
美聯(lián)儲曾經(jīng)不時享受高度的獨立性，譬如在艾森豪威爾和肯尼迪執(zhí)政期間。其余時候，和它站在對立面的總統(tǒng)能讓央行俯首聽話。對于今日的美聯(lián)儲領導者，這本書是發(fā)人深省的一課。