hitdollar

A Currency Upheaval Is Coming

– June 25, 2019

If the managers of the dollar instead seek isolation, protection, sanctions, blacklisting, and devaluation, powerful market forces will continue to seek alternatives.

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2008crisis

Monetary Policy 10 Years After the Crisis

– June 25, 2019

A decade has passed since the financial crisis of 2008-9. Unfortunately, the Fed is more politically exposed (and policy constrained) than ever.

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shotgunswitch

The Rise of the Shotgun Banknote Switch

– June 24, 2019

In times past the monetary authorities confined these sorts of stringent measures to war-time. Perhaps they should stay that way.

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libracurrency

The Libra Is More Significant than You Think

– June 24, 2019

The Libra has the potential to mark the start of something because if widely used, it will open the eyes of the global population to a truth about money: it works best when its value is stable, plus it needn’t be a government creation. 

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wareverywhere

Trade War Goes Bipartisan, and the Fed Will Make It Worse

– June 20, 2019

The trade war is heating up. Unfortunately, the Fed’s current framework will exacerbate the damage.

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fedeagle

Central Banks Contribute to Inequality

– June 19, 2019

Under a loose-money regime, the powerful get the new money first. 

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yuandollar

Currency Devaluation Is No Ticket to National Prosperity

– June 17, 2019

If a government manages to undervalue its currency in terms of foreign currencies, it subsidizes the consumption of foreigners who purchase its country’s exports. And while gains are reaped by those of its citizens who work to supply goods for export, currency undervaluation makes most of that country’s citizens poorer.

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politicalfed

The Fed Is Hereby Exposed as Wholly Political

– June 11, 2019

If there is a bright spot to the tariff war, it’s that the Fed has definitively exposed itself as a political body, less interested in economic growth than serving the interests of power.

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Jay Powell BW

Powell’s New Monetary Regime

– June 7, 2019

Fed Chair Jerome Powell has suggested that Federal Reserve policy might not tighten as much as anticipated. He has also changed the regime that dominated the last decade of monetary policy.

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padlock-597495_1280

Monetary Policy and Constrained Discretion

– June 5, 2019

The problem with constrained discretion is that it leaves up to central bankers the decision when to switch from rule-like behavior to discretionary behavior.

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variousmonies

Inflation Targeting in Argentina: What Went Wrong?

– May 31, 2019

To reduce inflation and keep the Argentine peso stable going forward, the Macri administration adopted an inflation-targeting regime. But, just 26 months after its implementation in September 2016, the inflation-targeting regime had failed. What went wrong?

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dollarclamp

Did Tight Monetary Policy Result in a Sluggish Recovery?

– May 15, 2019

Some claim that, over the last decade, tight monetary policy slowed down what would otherwise have been a rather speedy recovery. Can that possibly be right?

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