新经济思想研究所：民主主权与赚钱特权：以美联储为例（英文版）

The surge of executive power unleashed by the Supreme Court has reached the Federal Reserve, provoking a crisis that the justices seem suddenly anxious to avoid. But the drama is long overdue. The central bank has a constitutional stature that poses a direct challenge to unitary executive theory, the principle animating the Court’s recent case law. Congress established the Federal Reserve System to carry out a critical legislative prerogative—making the sovereign money supply. Congress u