“In the long run, the money supply isn’t that important. But in the short- to medium-run, it’s pretty important. There are good reasons for the money supply to change.” ~ Alexander William Salter
READ MORE“Despite affirmations to the contrary, the Fed appears to have abandoned its average inflation target. Excessive nominal spending has pushed prices well above the level consistent with the Fed’s average inflation target.” ~ William J. Luther
READ MORE“The American public understands inflation and policymakers have a reasonable degree of control over it. When choosing a policy rule, we need humility first and foremost. Let’s stop asking the Fed for more than it can deliver.” ~ Alexander William Salter
READ MORE“There’s plenty wrong with central banking, no doubt, but showering broken institutions with infinite credit lines and opportunity-cost free funding isn’t one of them.” ~ Joakim Book
READ MORE“Sooner or later, absent substantially lowering government spending or raising taxes, interest payments will overwhelm the government’s budget. The situation might even be termed a sovereign debt crisis.” ~ Gerald P. Dwyer
READ MORE“Over the months and years to come, it will be very interesting to see how faithfully the Fed pursues its policy of returning interest rates to normal and sustainable levels—approximately 3-4 percent for the federal funds rate.” ~ Robert F. Mulligan
READ MORE“The conversation centered around recent comments by US Federal Reserve Bank Chairman Jerome Powell, and how the Federal Reserve intends to bring our 40-year high inflation rate down to levels prior to 2021.” ~ Dr. Timothy G. Nash
READ MORE“Fed Chair Jerome Powell’s November statement killed the idea that inflation would be transitory. The most recent projections from the FOMC show how deeply that idea has been buried.” ~ William J. Luther & Morgan Timmann
READ MORE“There are several steps to go before the Federal Reserve starts selling assets to reduce the size of its balance sheet. That type of active tightening will probably not begin for a while.” ~ Thomas L. Hogan
READ MORE“The Bernanke Fed was practicing QE much earlier than is widely thought. This early QE experiment, likely intended to stabilize short-term inflation expectations, transformed monetary policy prior to the crisis.” ~ James L. Caton
READ MORE“Whereas the sCBDC plan allows for numerous, entirely distinct retail digital currencies, the Fed’s iCBDC plan provides for a single digital currency only, albeit one offered at and administered by numerous private-sector firms.” ~ George Selgin
READ MORE“When will the Federal Reserve begin to unwind its balance sheet this time? If the meeting minutes indicate the trajectory of policy, reductions will begin within the next two years.” ~ James L. Caton
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