Government
-
|
Greedy Corporations and Inflation
“Only a monetary policy geared to reduce inflation will be effective in reducing inflation. This is as true now as when the Federal Reserve lowered inflation in the early 1980s.” ~ Gerald P. Dwyer
-
|
Does Monetary Policy Matter?
“The Fed’s actual performance has not been ideal. Its monetary policy mistakes have had dire consequences for ordinary Americans and the US economy. Those mistakes make it clear that monetary policy matters.” ~ Thomas L. Hogan
-
|
Why Deficits Matter
“If we want to argue deficits matter more conventionally, we’ll have to do some more theoretical heavy lifting. The usual aggregate demand stories we tell don’t cut it.” ~ Alexander William Salter
-
|
Fed Officials Think Inflation Should Remain High Through 2024
“It seems the Fed is not committed to hitting its average inflation target. Inflation will be transitory in the sense that the rate will eventually return to 2 percent. But the price level will likely remain elevated.” ~ William J. Luther
-
|
How Much Can the Supply Chain Explain the Rise of Inflation?
“Once we move from the realm of small price level movements to a more permanent and higher inflation rate scenario, it is more likely that the source of the rise in the price level is on the monetary side—even if the government doesn’t want to admit it.” ~ Nicolás Cachanosky
-
|
The New Status Quo for Public Finance
“After the 2008 financial crisis, the US never returned to pre-crisis growth levels. My expectation is that unless private investors find a means of avoiding this subsidization of federal borrowing, we never will.” ~ James L. Caton
-
|
Financial Regulators Ignore the Costs of Regulation
“According to the main evidence cited by the bank regulators themselves, the NSFR will create a net cost to the U.S. financial system, not a net benefit.” ~ Thomas L. Hogan
-
|
Powell Pivots as Inflation Picks Up
“Powell recommended ditching the term transitory. ‘We tend to use it to mean that it won’t leave a permanent mark in the form of higher inflation,’ he told the Senate Committee. ‘I think it’s probably a good time to retire that word and try to explain more clearly what we mean.’” ~ William J. Luther
-
|
Cryptocurrencies and the National Bank Act: Learning the Wrong Lessons from History
“Perhaps the cryptocurrency market would benefit from regulatory oversight. But the regulators are certainly wrong to base their case on the historical experience of the US. The lesson they should learn from history is that regulation can be detrimental.” ~ Nicolás Cachanosky & William J. Luther
-
|
Crowding Out Under Quantitative Easing
“The data speaks loudly. An accommodative monetary policy has failed to facilitate a robust economic recovery. And an artificially low federal funds rate is pumping up the federal debt and weighing on private investment.” ~ James L. Caton
-
|
The Federal Reserve Is Not Credible
“Having persistently undershot its inflation target for nearly a decade, the Fed now looks poised to err in the opposite direction.” ~ William J. Luther
-
|
How the Fed Can Improve Financial Stability and Reduce Inequality
“There is clear evidence that bank deregulation can improve financial stability while also shrinking inequality. By lowering the costs of doing business, strong but simple regulations improve job opportunities for low-skilled and minority workers.” ~ Thomas L. Hogan & Amelia Janaskie
