Inflation
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Investors Make Houses More Affordable, Not Less
“Blaming high housing prices on private equity because they ‘bought up all the available homes’ is like blaming high food prices on grocery stores because they bought up all the available food.”
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Business Conditions Monthly April 2024
“The road ahead remains uncertain, though, with potential outcomes ranging from a slow, steady economic rebalancing to sluggishness or even a recession.” ~Peter C. Earle
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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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Democrats Play the Blame Game on Rent Inflation
“Imposing new costly regulations will not make housing more affordable — unleashing the housing supply by deregulating zoning and overly strict building codes will.” ~Louis Rouanet
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Don’t Let a Crisis Go to Waste in 2025
” By returning to principles of fiscal responsibility and market-driven activity, America can navigate away from the fiscal abyss and toward a future of economic stability and prosperity.” ~Vance Ginn
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FOMC Holds Rates, Revises Forward Guidance
“Just as the FOMC was slow to adjust policy when inflation surged in late 2021, it will be slow to adjust policy as inflation returns to and falls below its target in 2024.” ~William J Luther
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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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Politicizing Monetary Policy Won’t Fix the Fed’s Failings
“Even if one thinks Trump is well-suited to make interest rate decisions (and there is little reason to think he is), it does not follow that Trump’s proposed solution would improve monetary policy.” ~Nicolás Cachanosky
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Defense Manual for The War on Prices
“The book advocates for a substantial policy shift toward minimal governmental interference, allowing market mechanisms to function unimpeded. Sadly, we are moving in the opposite direction.” ~Vance Ginn
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Inflation Continued to Decline in April
“While inflation is declining once more, members of the Federal Open Market Committee (FOMC) have suggested rates would need to remain high for longer than they had previously projected.” ~William J. Luther
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Inflation to the Nines
“Americans will have to decide for themselves if the claim made by Biden was a lie intended to mislead anyone not familiar with the trajectory of prices over the past several years, or an innocent error.” ~Peter C. Earle
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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
