Journal of Government and Economics
Yes, FOMC choices reflect the party in control in Washington DC. I use the Taylor rule to explore the politics of monetary policy in the US in this recent open access piece in the Journal of Government and Economics. The original working paper that outlines these results dates to 2006, but the published work extends the data to 2024 and includes some recent political science work on politics and the Fed. The upshot is that the Fed is much more sensitive to the level of inflation when Republicans have a majority in the House and the Senate and the President is Republican.
Click here to check out the full paper.
The APC for this article was covered by the Academic Center for Chinese Economic Practice and Thinking (ACCEPT), Tsinghua University and Society for the Analysis of Government and Economics (SAGE).