The Catholic University of America

CUA Law Professor Marshall Breger is one of eight academics, who has been invited to participate in a book review blog from the Yale Journal on Regulation and the ABA Section of Administrative Law & Regulatory Practice, "Notice and Comment." The book under discuission is Peter Conti-Brown The Power and Independence of the Federal Reserve (Princeton U. Press 2016). "Notice and Comment" is the most read academic blog covering issues of law and regulation. See below for an excerpt of his review:

Four Comments on Conti-Brown’s The Power and Independence of the Federal Reserve, by Marshall Breger

JREG Notice and Comment - Friday, April 08, 2016

. . .
I join my fellow colleagues in praising Peter Conti-Brown’s The Power and Independence of the Federal Reserve. The book provides an insightful history of the Federal Reserve since its 1913 inception and is a powerful account of the extent to which “personnel is policy.” In particular, I note his nuanced understanding of “agency independence” as far more than the notions of legal “independence” found in Supreme Court cases from Humphrey’s Executor to Free Enterprise. 

As Conti-Brown underscores, we need an “explanatory context where Fed insiders and interested outsiders form relationships using law and other tools to implement a wide variety of specific policies.” (6) While this functionalist understanding of “independence” has long been found in the political science literature, it has only recently been “imported” into the legal literature on “independent regulatory agencies.” One can only hope that we will shortly see more case studies of “independent” agencies from Peter Conti-Brown’s nuanced perspective.
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To read the full review, click here.


Marshall Breger  

Professor Marshall Breger's
Areas of Expertise

Foreign Relations Law

The Middle East Peace Process

Administrative Law


For additional information about our professors' areas of speciality, see his faculty page.