“In reading Mises I am always struck by how fresh he still reads, and how relevant his analysis of contemporary policy in the first half of the 20th century still […]
“In reading Mises I am always struck by how fresh he still reads, and how relevant his analysis of contemporary policy in the first half of the 20th century still […]
“Since the announcement last week that I will chair the congressional subcommittee that oversees the Federal Reserve, the media response has been overwhelming. The groundswell of opposition to Fed actions […]
“There’s no free lunch. All potential “solutions” to the Chinese inflation problem come with serious associated potential costs and risks. For example, raising interest rates could devastate the real estate […]
“On the other hand, all that has happened is that the tax rates that have now been in force for almost 10 years have been continued for 2 more years. […]
“James Bullard, president of the Federal Reserve Bank of St. Louis, said “it would be OK with me” if Congress used legislation to remove the Fed’s current mandate that it […]
“The contradictions were as apparent then as now; as Mr. Corker puts it, a central bank cannot have “a bipolar mandate.” The pressure to bring down unemployment using money creation […]
“The Fed argues that QE is not inflationary, because the electronic money is sitting in the coffers of the banking Oligarchs, and isn’t circulating in the general economy. “One myth […]
“The aim of QE2 has been to lower medium-to-longer-term interest rates since the Fed’s main policy variable—the overnight federal funds rate—has been pinned near zero for two years. But since […]
“Unemployment is not high because the maturity structure of government debt is too long, thank you, nor from any lack of “liquidity” in a banking system that is sitting on […]
“The central bank is not expected to signal any shift away from its intention to buy $600 billion in government debt but markets are already bringing forward expectations of when […]