Beyond Unprecedented S5 Ep2: Fed Up With Central Bank Independence?
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Document Type
Podcast
Publication Year
2026
Description
The past year has seen growing challenges to the independence of the U.S. Federal Reserve. Lev Menand, Associate Professor of Law at Columbia Law School, discusses the Trump administration’s legal fight to remove Federal Reserve Governor Lisa Cook, the U.S. Department of Justice’s probe of Federal Reserve Chair Jerome Powell, and the implications of political pressure on the Fed.
Disciplines
Banking and Finance Law | Business Organizations Law | Economics | Law | Law and Economics | Law and Politics
Center/Program
Ira M. Millstein Center for Global Markets and Corporate Ownership
Recommended Citation
Talley, Eric L.; Lund, Dorothy S.; and Menand, Lev, "Beyond Unprecedented S5 Ep2: Fed Up With Central Bank Independence?" (2026). Beyond Unprecedented Season 5. 2.
https://scholarship.law.columbia.edu/beyond_unprecedented_5/2
Episode Details
Released: March 9, 2026
Length: 38:39
Featuring:
Lev Menand is Associate Professor of Law at Columbia Law School, where he teaches financial institutions and administrative law. He has written extensively on both subjects, including a book on the Federal Reserve, The Fed Unbound: Central Banking in a Time of Crisis (2022), and, with co-authors, a new casebook on the law of Networks, Platforms, and Utilities (2022).
Menand served as senior advisor to the deputy secretary of the Treasury and as senior advisor to the assistant secretary for Financial Institutions. Additionally, Menand was an economist at the Federal Reserve Bank of New York, where he helped to develop econometric models for the Federal Reserve System’s first Comprehensive Capital Assessment and Review.
Menand clerked for Judge Jed S. Rakoff on the U.S. District Court for the Southern District of New York and Chief Judge Robert A. Katzmann on the U.S. Court of Appeals for the 2nd Circuit.
Hosted By:
Eric Talley, Marc and Eva Stern Professor of Law and Business, is an expert on the intersection of corporate law, governance, and finance. As a co-director of the Ira M. Millstein Center for Global Markets and Corporate Ownership, Talley directs research and programs focused on the future of corporate governance and performance. He is a frequent commentator in the national media, and he speaks regularly to corporate boards, judges, and regulators on issues pertaining to fiduciary duties, governance, and finance. He is a graduate of the University of California San Diego, and he earned a J.D. and a Ph.D. in economics from Stanford University. Talley also hosted the first four seasons of Beyond Unprecedented.
Dorothy S. Lund, Columbia 1982 Alumna Professor of Law and co-director of the Ira M. Millstein Center for Global Markets and Corporate Ownership, teaches and writes extensively on corporate law, corporate governance, securities regulation, contracts, and mergers and acquisitions. Lund’s work has been published in the Columbia Law Review, Journal of Corporation Law, and Stanford Law Review, among other journals. She has also written for popular publications including The Atlantic, The New York Times, and The Wall Street Journal. Several of her articles have been voted among the top 10 corporate and securities law articles of the year. Before entering academia, Lund clerked for Chief Justice Leo E. Strine Jr. of the Delaware Supreme Court and Judge Joel M. Flaum of the U.S. Court of Appeals for the 7th Circuit. She also practiced corporate law at Sullivan & Cromwell in New York. Lund hosted the fourth season of Beyond Unprecedented.