La fuite de New York de la Réserve fédérale

WASHINGTON, DC – La Réserve fédérale américaine est la banque centrale la plus importante au monde. Ses décisions concernant les taux d'intérêt et la réglementation financière se répercutent sur les marchés mondiaux et affectent des millions de vies. Pourtant, sa structure de gouvernance est d'un autre âge – archaïque, de plus en plus problématique, et qui a de toute urgence besoin d'une réforme sensible.

La Fed a fait des erreurs majeures au cours de la période qui a précédé la crise économique mondiale de 2007-08, notamment en adoptant une approche laxiste en matière de surveillance des institutions financières clés, et en permettant à certaines très grandes banques de devenir extrêmement fragiles. Par l'une des grandes ironies de la politique américaine moderne, en réponse à la crise, les réformes financières Dodd-Frank de 2010 ont donné plus de pouvoir à la Fed, la plupart du temps parce qu’il était considéré que d'autres organismes de réglementation aux États-Unis avaient encore moins bien travaillé.

Compte tenu de la performance franchement mitigée de la Fed depuis les réformes Dodd-Frank, certains responsables ont, de toute évidence, considéré ce choix par défaut du Congrès comme un mandat pour continuer à fonctionner comme d'habitude. Certains reportages récents dans la presse ont mis en évidence des défaillances dans la surveillance, en particulier au sein et autour de la Federal Reserve Bank de New York – l'une des 12 banques régionales du Système de la Fed, qui a aussi un Conseil des gouverneurs à Washington, DC.

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