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Three Things You Should Know About the Great Recession

– March 5, 2019

The Great Recession of the 2000s shaped a generation of macro- and monetary economists. We can debate the details. But three things warrant widespread agreement.

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A Failure to Communicate

– February 12, 2019

Central banking should be boring. Surprises in the stance of monetary policy are almost always a bad thing. The best thing a central bank can do to achieve macroeconomic stability is to be very open about its future intended policies.

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Powell’s Game Plan

– January 17, 2019

Chairman Powell’s track record suggests that he has a grasp on fundamentals and that he is dedicated to reversing a decade of monetary imbalance.

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Should Central Banks Lock Out Non-Bank Payment Providers?

– January 10, 2019

That one set of payments providers gets access to the core payments system while another is shut out seems quite arbitrary.

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The Fed is Hostile to a Self-Governing Society

– January 9, 2019

While it is appropriate for monetary policy to be removed from active political interference, it does not follow that monetary policy ought not be judged according to democratic standards.

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The Dangers of Negative Interest Rates and a Cashless Economy

– January 9, 2019

Interest rate manipulations by central banks through monetary policy are similar to price controls on other goods.

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ECB Opens Real-Time Retail Payments System

– December 27, 2018

European payments just got a whole lot faster. But faster speeds come at a cost.

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Bloated Fed Not Ready for Next Recession

– December 27, 2018

The Fed’s failure to shrink its balance sheet and commitment to paying above-market interest on reserves could undermine its ability to combat the next recession.

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What’s Next for the Fed? (Video)

– December 19, 2018

Edward Stringham appeared on Yahoo Finance ahead of major rate decisions by the Fed

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Trump Breaks Unwritten Rule of Monetary Policy

– December 3, 2018

President Trump violated long-standing norms with his swipes at the Fed. But the notion that his predecessors kept their noses out of the Fed’s business is largely a myth.

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It’s a Snap to Abolish the Fed

– December 2, 2018

Wouldn’t the world fall apart? Not at all. I predict that the news would be front page for the usual 48-hour news cycle and then the world would move on. No big deal. There is no downside. And a huge upside. All it requires is some political courage.

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Two Treatises On Competitive Currency and Banking by Lysander Spooner (full text), edited by Phil Magness

– November 20, 2018

By making these lost Spooner treatises available again after more than a century in seclusion, it is my hope that they will both further our historical understanding of the time in which they were written and offer relevant insights to the evolution of economic ideas in the present day.

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