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Thomas Drechsel

Thomas Drechsel is an assistant professor of economics at the University of Maryland.
Monetary Policy

The Economic Consequences of Political Pressure on the Federal Reserve

Thomas Drechsel
Politicians often interfere with central banks, but it is not clear how to measure such political pressure systematically and therefore difficult to quantify its economic consequences. In new research, Thomas Drechsel finds that political pressure strongly and persistently raises inflation and inflation expectations but has little impact on economic activity.

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The publication of the Stigler Center at The University of Chicago Booth School of Business

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