But who sets the algorithm? Whichever department of branch of govt was in charge of that would become have the enormous power, and political motivation would then fall to that.
Equally the same for data that goes into the algorithm - if you can control that you control interest rates.
Agreed, but we're already living that reality. Moving to an algorithmic approach provides a layer of transparency that makes manipulation easier to detect.
Equally the same for data that goes into the algorithm - if you can control that you control interest rates.