“The real question is, are the proponents of ‘Audit the Fed’ legislation seeking to make the Fed more accountable …? Or are they basically people who don’t like what the Fed is doing and see ‘Audit the Fed’ as a lever to change the Fed?” asks Hutchins Center on Fiscal and Monetary Policy Director David Wessel in this podcast. Listen to find out why Wessel calls “Audit the Fed” a misnomer, but also how he explains why we are asking the Fed to do too much in the economy. He also offers ideas on useful reforms to Fed accountability and transparency. Plus, find out why he describes a return to the gold standard as “snake oil.” Wessel is also a senior fellow in Economic Studies and former economics editor of the Wall Street Journal.

Show Notes:

- The Fed in the 21st century: Independence, governance, and accountability- The Hutchins Center Explains: Audit the Fed- Congress vs. Yellen: Partisanship or accountability?- Central Banking After the Financial Crisis- The Global Financial Crisis: Lessons from History- Hutchins Center on Fiscal and Monetary Policy

Subscribe to the Brookings Cafeteria on iTunes, listen on Stitcher, and send feedback email to [email protected].