Auditing the central bank: a jolly good thing!

Willem Buiter, who was named Nov. 30 to be the next chief economist of Citigroup, wrote in his Financial Times blog 10 days earlier that auditing the Federal Reserve would be “a jolly good thing!” Buiter, then of the London School of Economics, argued that an audit would make the Fed more accountable and “could well set an important precedent for... central banks everywhere.”