{
    "name": [
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        "The U.S. presidential election of 1896 provides an excellent natural experiment to measure the impact of exchange-rate uncertainty on bank balance sheets and the broader economy. The evidence suggests that the election's contentious free-silver debate significantly constrained banking activity and real economic activity by creating greater uncertainty about U.S. commitment to the gold standard. This finding reinforces the modern-day wisdom of insulating monetary policy from politics."
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    "language": [
        "eng"
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    "titleInfo": [
        {
            "title": "Presidential Politics and Monetary Policy",
            "subTitle": "Lessons From the 1896 Election",
            "titlePartNumber": "No. 20-02"
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    "originInfo": {
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        "sortDate": "2020-02-01",
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    "physicalDescription": {
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        "extent": "5 pages",
        "digitalOrigin": "born digital",
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    "location": {
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        "textUrl": [
            "https:\/\/fraser.stlouisfed.org\/files\/text\/historical\/frbrich\/econbrief\/frbrich_eb_20-02.txt"
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            "titleInfo": [
                {
                    "title": "Economic Brief "
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    "accessCondition": "For more information on rights relating to this item, please see: https:\/\/fraser.stlouisfed.org\/title\/economic-brief-6034\/presidential-politics-monetary-policy-586562"
}