Why the Erosion of Central Bank Independence Matters

Central bank independence isn’t just wonky economic theory. It’s a stabilizing force in fiat money-using economies. When shortsighted politicians control monetary policy, the public suffers. Consider that with a 10 percent inflation rate, a $50,000 salary loses $5,000 in purchasing power annually—that’s a month’s rent, a year of groceries, or your child’s college…