Tom Duncan

“Fed officials have for years cited “core inflation,” a measure that excludes food and energy prices. That is because core inflation tends to be a useful predictor of inflation over […]

“The first fact that needs to be noted in answering such questions is that inflation is detrimental to all creditors. The higher prices rise, the lower will fall the purchasing […]

“Despite government efforts to rein in inflation, China’s consumer price index in February rose 4.9% from a year earlier for the second straight month–well above the government’s target of 4%–the […]

“Just before the First World War in 1913, the German mark, the British Shilling, the French franc, and the Italian lira were all worth about the same, and four or […]

“Friedman’s emphasis on avoiding monetary disruptions arose, like many of his other ideas, from his study of U.S. monetary history. He had observed that, in many episodes, the actions of […]

“Up until recently, there was pretty overwhelming support by central bankers to keep U.S. interest rates low by buying up bonds in a second round of quantitative easing with the […]

“We’ve just passed the second anniversary of “economic stimulus” under President Barack Obama. Aside from spending on the stimulus itself—the actual price tag soon climbed from $787 billion to $862 […]

“The Obama administration nominated Diamond as an ally to Federal Reserve Board Chairman Ben S. Bernanke and other members who have sought to provide an additional jolt of stimulus to […]

“If people individually reduce their spending, the fiscal stimulists claim that government can fill the void by spending more. This is a portrait of government spending as providing a “shot […]

“Two top Federal Reserve officials on Monday offered conflicting views on the right response to higher oil prices, kicking off what’s likely to be a lively debate within the central […]