Long terms of office for members of the Governing Council, who serve on the Council in a personal capacity, and a rule that members of the Executive Board cannot be reappointed, also contribute to minimizing potential political influences on members of the ECB’s decision-making bodies.
FOMC participants have cited different reasons for this view, but many of the reasons involve persistent effects of the financial crisis and the possibility that the productive capacity of the economy will grow more slowly, at least for a time, than it did, on average, before the crisis.