The one instrument that has relative political autonomy is monetary policy. Central banks do not need to go to Congress to get approval for an interest rate hike.
Mohamed El-Erian
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This page presents the quote "The one instrument that has relative political autonomy is monetary policy. Central banks do not need to go to Congress to get approval for an interest rate hike.". Author of this quote is Mohamed El-Erian. This quote is about political, central banks, monetary policy, autonomy, relative, approval, congress, needs, interest rate,.