Alexander W. Salter
Salter earned his M.A. and Ph.D. in Economics at George Mason University and his B.A. in Economics at Occidental College. He was an AIER Summer Fellowship Program participant in 2011.
Articles
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Moderate Inflation Affirms Fed’s Path to Easing
“The Fed should ignore the political noise and follow the data. Central bankers failed to curb inflation, but that doesn’t mean they should deliberately make the opposite mistake now.” ~Alexander W. Salter
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Harris’s ‘Joy’ Would Cost US Dearly
“Economists have a duty to point out just how destructive these proposals are.” ~Alexander W. Salter
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Moderate Inflation Returns in July
“To judge whether monetary policy is loose, it is not enough to show that monetary aggregates are growing at historically low rates. What matters is whether the money supply is growing faster than money demand.” ~Alexander W. Salter
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There’s Nothing Conservative about Deficits and Debt
“Interest payments now suck up more of the federal budget, leaving less to spend on important political priorities. Since Republicans and Democrats disagree about what those priorities are, the resulting fiscal strain amplifies partisan divisions.” ~Alexander W. Salter
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Consumer Prices Decline in June
“Interest rates tell us monetary policy is very tight. The money supply tells us monetary policy is somewhat tight. Will the Fed interpret recent data as a signal it’s time to pivot?” ~Alexander W. Salter
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There’s No Good Reason to Raise the Inflation Target
“Why not give the central bank a wider berth, if it helps to stabilize the economy? Because it doesn’t actually help. Interest rates are a distraction.” ~Alexander W. Salter
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Prices Stable in May: Time to Cut Rates?
“M2, the most commonly cited measure of the money supply, is up 0.53 percent from a year ago. Since real income and population are growing faster than this, current M2 growth also suggests money is tight. But this is speculative.” ~Alexander W. Salter
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Confounding the Case for Oil and Gas Collusion
“Oil is produced and sold in a global market. Even true cartels like OPEC don’t have total control over prices. It comes down to supply and demand.” ~Alexander W. Salter
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April’s Disinflation Delivery
“In the first quarter of 2024, the US economy expanded at a rate of 1.6 percent per year. That’s hardly an impressive growth rate, but it’s significantly faster than money supply growth. Money looks somewhat tight.” ~Alexander W. Salter
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A Better Model Won’t Fix The Fed
“The whole point of expectations-responsive monetary policy is to remove the discretionary and technocratic elements from central banking. Disappointingly but unsurprisingly, the Fed is doing the opposite: doubling down on discretion and technocracy.” ~Alexander W. Salter
