Laurence H Meyer: The politics of monetary policy - balancing independence and accountability  Remarks by Laurence H Meyer, a member of the Board of Governors of the US Federal Reserve System, at the University of Wisconsin, LaCrosse, Wisconsin on 24 October 2000.
*  *  *  It is widely believed, at least among central bankers, that “independence” is a prerequisite for achieving the goals that traditionally have been assigned to central banks - specifically for achieving price stability. “Independence” does not mean literally independence from government, because central banks here and abroad are almost always part of government.