Dr. Alexander William Salter joins The Jeff Kennedy Show, to discuss his recent op-ed: 'What is Central Bank Independence'. Dr. Salter discusses what exactly central bank independence is and why it is considered so crucial to a healthy economy. The conversation leads into where the Fed currently stands on the four types of independence - goal, instrument, financial, and personnel. Dr. Salter notes that monetary policy is all about incentives and what role the rule of law plays in whether central bank independence actually leads to good outcomes.