Central Bank Reading

And finally, here are a couple of interesting readings about central banking. The first comes from the Federal Reserve Bank of San Francisco and discusses the Fed's exit strategy for the most recent recession. Specifically, it looks at how the Fed might withdraw from the monetary easing and other actions that were put in place as the economy was slowing. It's a quick read and may prove valuable as the situation progresses. You can always refer to it when discussing the process with your students.

The second is from a speech from one of the senior members of the Bank of England (HT to Marginal Revolution). It deals with central bank independence and what characteristics are most important for a properly functioning central bank. It's a bit longer, but it is still interesting reading.