Last year, Miran and a co-author decried the "revolving door" between the Fed and the executive branch. "Short-circuiting the revolving door between the Fed and the executive branch is critical to reducing the incentives for officials to act in the short-term political interests of the president." In a paper, they proposed a top-to-bottom legislative overhaul of the governance of the Fed, which they said had failed to remain apolitical under its current institutional arrangements. Among their proposals: make governors removable by the president for any reason and impose a four-year ban on Fed officials from serving in an executive branch office.