EconBuff Podcast #50 with Alex Salter Dr. Alex Salter talks with me about his book Money and the Rule of Law. Dr. Salter explains the major problems with current monetary policy execution. Dr. Salter argues that central banks struggle to implement monetary policy effectively because of discretion on the part of the central bank. We explore Salter’s main argument in the book, that the Federal Reserve should not make its own goals, but that the democratic process should more ti