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Without Rules, the Fed Rules

“Committing to a rule significantly lowers the cost of evaluating Fed policy. And lowering the cost of evaluating Fed policy could make it very clear to a great many people that the Fed is up to no good.” ~ Alexander W. Salter

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Confusing Liberty with Power 

“The oldest and fullest sense of liberty means freedom from coercion – that is, freedom to act according to your own plans and goals rather than according to someone else’s.” ~ Paul Mueller

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Business Conditions Monthly July 2023

“In summary, and with the caution that should attend social science empirics: a weakening US job market on top of the increasingly encumbered financial circumstances of many US citizens renders the continuation of robust consumption doubtful.” ~ Peter C. Earle

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