Over the years, there have been concerns over the reliability of our nation's most important economic mechanism, the Federal Reserve. The Federal Reserve is in charge of monetary policy, otherwise known as how much money is in our economy at any given time. Human error has often led to many economic catastrophes through the poor regulation of monetary policy from the federal, example (in part) being 1980's inflation and the Great Recession. Introducing a computer instead of a human council may decrease potentially disastrous errors, but could it open us up to other, more insidious, issues? (see link).
http://money.cnn.com/2016/06/01/technology/federal-reserve-hack/index.html
This is a pretty interesting idea! What with the rise of hacking over the past few years, I believe that using more technology in a domain as crucial as our Federal Reserve might have disastrous consequences that would outweigh the increased efficiency. Perhaps computers could be increasingly used in other sections of the operation, such as generating models and predicting trends.
Do you believe that the use of a computer instead of the FED chairman would be effective?
This is definitely a fantastic, but controversial idea. A system like this would need to be air-gapped.