Monetary Economics

Monetary policy influences inflation, employment, and economic activity. A stable but dynamic monetary system is vital for supporting economic growth, individual liberty, and a prosperous society. Therefore, we examine the causes and consequences of monetary policy (including inflation), identify ideal and practical steps towards a better monetary policy regime, and look at monetary alternatives and financial regulation.

Articles

Thomas Savidge

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3/11/25

Financing the Federal Government: How Government Takes & Spends Your Money

This Explainer will cover where the government takes revenue from, how it spends those dollars, how it prioritizes spending, and what’s projected for the future.
AIER

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10/3/24

Harwood Economic Review: Dispelling Economic Myths

Our latest issue explores why economic misconceptions persist and the vigilance required to counter them.
William J. Luther

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10/3/24

CBDCs Undermine Financial Privacy

“Financial privacy is very important for a free society. What we do reveals much more about who we are than what we say.” ~William J. Luther
William J. Luther

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9/28/24

Inflation Remained Below Target in August

“More cuts are projected for 2025, but not enough to return the stance of monetary policy to neutral.” ~William J. Luther
Vance Ginn

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9/27/24

Will the Fed Repeat 1970s Policy Mistakes?

“Without structural reforms, inflation will continue to threaten the purchasing power of Americans.” ~Vance Ginn
Richard Salsman

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9/19/24

Fed Rate Cuts Are Unlikely to Goose the Stock Market or Prevent a Recession

“Rate cuts based on hindsight instead of foresight can confirm a recession but can’t prevent it.” ~Richard Salsman
William J. Luther

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9/18/24

Fed Rate Cuts: Better Late than Never

“A 50 basis point cut in its federal funds rate target on Wednesday marks a reversal at the Fed.” ~William J. Luther
Alexander W. Salter

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9/11/24

Moderate Inflation Affirms Fed’s Path to Easing

“The Fed should ignore the political noise and follow the data. Central bankers failed to curb inflation, but that doesn’t mean they should deliberately make the opposite mistake now.” ~Alexander W. Salter
Gerald P. Dwyer

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9/6/24

Tax Cryptocurrencies as Money, Not Property

“Treating cryptocurrencies like property for tax purposes discourages people from using them like monies.” ~Gerald Dwyer
William J. Luther

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8/30/24

Inflation Slightly Below Target in July

“The federal funds rate target range is likely to be at least a full percentage point lower by the end of the year. That would significantly reduce the distance the Fed needs to travel in order to return monetary policy to neutral.” ~William J. Luther