"A rule-oriented approach and more transparency could even help the Fed to fight off political pressure by the President", Wieland said in an interview with the business magazine "Wirtschaftswoche". This would be compatible with the self-perception of the Fed staff. "Among the Fed staff there is a strong esprit de corps and a high awareness of its competence". According to Wieland, the so-called Fed Oversight Reform and Modernization Act (FORM Act) has a good chance to find a majority in the House of Representatives and the Senate.
Wirtschaftswoche: "Chaostage im Geldtempel" (Paid Content)
Henrike Michaelis and Volker Wieland: "R-Star and the Yellen rules" (VoxEU)