A Global Leviathan Emerges: The Federal Reserve, COVID-19, and International Law

Bradlow, Daniel; Park, Stephen

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A Global Leviathan Emerges: The Federal Reserve, COVID-19, and International Law

American Journal of International Law, Vol. 114, No. 4, 2020

University of Connecticut School of Business Research Paper No. 21-03

12 Pages Posted: 8 Nov 2020 Last revised: 11 Dec 2021

See all articles by Daniel Bradlow

Daniel Bradlow

University of Pretoria; American University - Washington College of Law

Stephen Park

University of Connecticut - School of Business; University of Connecticut - School of Law

Date Written: October 20, 2020

Abstract

The COVID-19 pandemic highlights the importance of the Federal Reserve as a leading actor in global economic governance. As a creature of U.S. domestic law with an international presence and operational independence, the Fed wields authority without a well-defined international legal status, international legal standards to guide its conduct, or accountability to those around the world affected by its decisions. This Essay explores three conceptual approaches that could be used to develop norms, standards, and principles to address this gap.

Suggested Citation: Suggested Citation

Bradlow, Daniel David and Park, Stephen, A Global Leviathan Emerges: The Federal Reserve, COVID-19, and International Law (October 20, 2020). American Journal of International Law, Vol. 114, No. 4, 2020, University of Connecticut School of Business Research Paper No. 21-03, Available at SSRN: https://ssrn.com/abstract=3725273