The Sound Money Project was founded in January 2009 to conduct research and promote awareness about monetary stability and financial privacy. The project is comprised of leading academics and practitioners in money, banking, and macroeconomics. It offers regular commentary and in-depth analysis on monetary policy, alternative monetary systems, financial markets regulation, cryptocurrencies, and the history of monetary and macroeconomic thought. The Sound Money Project also hosts an annual essay contest. For the latest on sound money issues, subscribe to our working paper series and follow along on Twitter or Facebook.

Advisory Board: Steve H. Hanke, Jerry L. JordanGerald P. O’Driscoll, Jr., Lawrence H. White
Director: William J. Luther
Senior Fellows: Gerald P. DwyerJoshua R. Hendrickson
Fellows: Scott A. Burns, James L. Caton, Nicolás Cachanosky, Judge GlockAlexander W. Salter
Contributors: Brian C. Albrecht, J.P. Koning

Business Conditions Monthly

November Business Conditions Monthly

– November 14, 2019

AIER’s Leading Indicators index held steady in October, remaining slightly above neutral. Slow growth continues as economy remains vulnerable.

Everyday Price Index

Wide-spread Increases Boost Everyday Price Index in October

– November 13, 2019

AIER’s Everyday Price Index rose 0.4 percent in October, reversing back-to-back declines. Increases were widespread for the month. However, over the past 12 months, the index is up just 0.2 percent and over the past five years, the annualized gain is j …

Economic risks rising

October Business Conditions Monthly

– October 17, 2019

AIER’s Leading Indicators index fell in September but remains slightly above neutral. Risks to the economy are rising.

Apparel prices rise

Everyday Price Index Is Little Changed in September; Apparel Prices Rise

– October 11, 2019

AIER’s Everyday Price Index fell 0.1 percent in September, the third decline in the past four months.


AIER Everyday Price Index Falls in August, Down for the Year

– September 12, 2019

  AIER’s Everyday Price Index fell 0.5 percent in August, the second decline in the past three months. Over the past 12 months, the EPI is down 0.1 percent, the first 12-month decline since February and down sharply from the 3.7 percent increase f …


September Business Conditions Monthly

– September 12, 2019

AIER’s leading indicators index rose in August, moving slightly above neutral; consumers remain key.


August Business Conditions Monthly

– August 15, 2019

AIER’s leading indicators fell back below neutral in July; second-quarter GDP posted a modest gain, but details look solid. AIER’s Business Cycle Conditions Leading Indicators index pulled back slightly in July, dropping to 46 following neutral 50 read …


Restaurant Prices and Gasoline Push the AIER Everyday Price Index Higher in July

– August 13, 2019

AIER’s Everyday Price Index rose 0.2 percent in July, partially reversing a 0.4 percent decline in June. The more widely known price gauge, the Consumer Price Index, also rose 0.2 percent in July. The EPI measures price changes people see in everyday p …