Sound Money Project
The Sound Money Project was founded in January 2009 to conduct research and promote awareness about monetary stability and financial privacy. The project is comprised of leading academics and practitioners in money, banking, and macroeconomics.
Advisory Board: Gerald P. Dwyer, Steve H. Hanke, Jerry L. Jordan, Lawrence H. White
Director: William J. Luther
Senior Fellows: Nicolás Cachanosky, Joshua R. Hendrickson, Thomas L. Hogan, Gerald P. O’Driscoll, Jr., Alexander W. Salter
Fellows: Bryan Cutsinger, Matthew Schaffer
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“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 […]
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“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 […]
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“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. […]
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“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 […]
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“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 […]
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“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 […]
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“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 […]
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“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 […]
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“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 […]
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“Since August, there certainly doesn’t seem to be much deflationary threat here. The 12-month change in PPI for finished goods is 3.5% as of November. So what’s driving the increase […]