Articles
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CEA Deserves an F on Bitcoin Mining Tax Analysis
“The CEA’s argument would result in a failure on an introductory microeconomics exam. One expects better from a team of professional economists.” ~ Joshua R. Hendrickson
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AIER’s Everyday Price Index Up 0.60 Percent in April 2023
AIER’s Everyday Price Index (EPI) rose 0.60 percent in April 2023 following being essentially unchanged in March and rising 1.6 percent in January and February. The index now stands at […]
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Bank Term Funding Program Discounts the Discount Window
“The Fed says it created BTFP to ‘support American businesses and households.’ But those businesses and households will ultimately be on the hook if the Fed’s risk-taking turns out to be too much.” ~ Nicolás Cachanosky
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Federal Reserve Raises Rate Target, Likely To Pause For Some Time
“In March, the median FOMC member projected the federal funds rate target would close the year above 5.0 percent. But the federal funds futures market is pricing in better-than-even odds that the target rate is less than 5.0 percent following the September meeting.” ~ William J. Luther
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On Fed Reforms, Ramaswamy Swings and Misses
“Ramaswamy’s arguments reveal he is unfamiliar with the ins and outs of monetary policy. His suggestions are poorly motivated and won’t result in a stronger economy. He’ll need to do better if he wants to rein in the Fed.” ~ Alexander William Salter
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Biden’s Bad Bet: How Regulation Kills Economic Growth
“We need to do two things to clean up this mess: unshackle the economy and shackle the administrative state. Bureaucrats and their political enablers can’t be trusted to curb their ambitions, so we must do it for them.” ~ Alexander William Salter
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Yes, the Fed Is a Failure
“DeSantis is right to call out the Fed. And honesty compels one to acknowledge the Fed’s failures, even if those failures are pointed out by politicians of whom one disapproves. Anything less subjects responsible policy analysis to rank partisanship.” ~ Alexander William Salter
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The Fed Is Bankrupt
“The most recent data show that the Fed owes the Treasury over $41 billion, which exceeds its total capital. The Fed, by common standards, is indeed insolvent.” ~ Thomas L. Hogan
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Interest Rates, the Money Supply, and Say’s Law
“Say’s Law absolutely helps us understand booms and busts on the demand side, but because of its emphasis on money, not interest rates.” ~ Alexander William Salter
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Have We Crested the Inflation Wave?
“My view is the Fed should pause its rate hikes in the short-run. Disintermediation might be the cause of recent money-supply trends. In the long-run, the Fed should resume forward guidance, but not on interest rates.” ~ Alexander William Salter
