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.
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“The math of 2 percent compound shrinkage demonstrates that the Fed wants to depreciate the dollar’s purchasing power by 80 percent in each average lifetime. Somehow the Fed never mentions this.” ~Alex Pollock
“In the name of preventing a second Great Depression, then-Fed Chairman Ben Bernanke opened a Pandora’s Box of monetary ills in 2008. And like the Greek myth, there may be no way of putting these ills back in the box.” ~Paul Mueller
“To judge whether monetary policy is loose, it is not enough to show that monetary aggregates are growing at historically low rates. What matters is whether the money supply is growing faster than money demand.” ~Alexander W. Salter
“Interest payments now suck up more of the federal budget, leaving less to spend on important political priorities. Since Republicans and Democrats disagree about what those priorities are, the resulting fiscal strain amplifies partisan divisions.” ~Alexander W. Salter
“Labor market developments cannot explain the decline in nominal spending growth. Tighter monetary policy can… Given the lags of monetary policy, the Fed may have already undershot its target.” ~William J. Luther
“Despite its controversial nature, full dollarization remains the monetary regime with the most potential for long-term stability in Argentina. It offers a credible pathway to restore confidence and put the country back on a sustainable economic trajectory.” ~Nicolás Cachanosky
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