Peter Conti-Brown is an assistant professor at the Wharton School at the University of Pennsylvania and a nonresident fellow at the Brookings Institution. Peter is also a historian and a legal scholar specializing in the study of the Federal Reserve and is a returning guest to Macro Musings. He joins the show today to talk about his new paper, *Restoring the Promise of Federal Reserve Governance*. Specifically, David and Peter discuss the institutional history of the Federal Reserve Board, the lack of transparency in the Fed appointment process, and why we should consider raising Fed governor salaries in the future. Transcript for the episode: https://www.mercatus.org/bridge/podcasts/01062020/peter-conti-brown-restoring-promise-federal-reserve-governance Peter's Twitter: @PeterContiBrown Peter's Wharton profile: https://lgst.wharton.upenn.edu/profile/petercb/ Related Links: *Restoring the Promise of Federal Reserve Governance* by Peter Conti-Brown https://www.mercatus.org/system/files/conti-brown-fed-governance-mercatus-working-paper-v1.pdf *John Williams May Be One of the Best Central Bankers – But That Doesn't Mean He Should Run the New York Fed* by Peter Conti-Brown https://www.brookings.edu/research/john-williams-may-be-one-of-the-best-central-bankers-but-that-doesnt-mean-he-should-run-the-new-york-fed/ David's blog: macromarketmusings.blogspot.com David's Twitter: @DavidBeckworth

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“What did the council decide on item 42?” — answered with the speaker and the moment.