How independent are central banks? An interview with Volker Wieland as hr-Info podcast

The independence of central banks is on trial time and again. However, the situation in the euro area is different from the United States as Prof. Volker Wieland explains.

The members of the Governing Council of the European Central Bank (ECB) as well as the presidents of the national central banks act according to their mandate, Wieland said. The Fed, however, is less independent. "A simple majority in Congress is sufficient for changing the law that regulates the tasks of the Fed."


hr-Info podcast: "Wie unabhängig sind Notenbanken?" (How independent are central banks)
Comments by Prof. Volker Wieland starting at 20:05