“Stagflation Comes to the U.K.”
“Inflation in the U.K. hit 3.5% annually in January, a level that required central banker Mervyn King to write a letter of explanation to the Treasury. Mr. King lays the blame for the price uptick largely at the feet of idiosyncratic factors. These inc …
READ MORE“Financial Crises and the Federal Reserve’s Punch Bowl”
“Why did the U.S. financial system nearly collapse last year? People blame Wall Street’s excessive greed and risk-taking. But without easy money, the massive risk-taking could not have happened. To be sure, financial firms leveraged up—that is, they di …
READ MOREThe Yo-Yo Tactic: Stop and Go Economics
In an op-ed for the Wall Street Journal, Fed Chairman Ben Bernanke commented on his “exit strategy”. There is a large amount of money floating around in the economy, and the Fed is finally starting to worry about it. Thus far, banks have held back the …
READ MOREIt’s October 1931
“We are now more than two years into the Great Recession, which began in December 2007. In the Great Depression, this was the point where the Fed decided to raise interest rates to keep the dollar from depreciating (after Britain left the gold standard …
READ MORE“Shughart: Bernanke agonistes”
“Mr. Bernanke has become something of a lightning rod for critics on the left, who think his response to the financial crisis that triggered the recession has been too timid, and for those on the right, who charge that the Fed has been overly aggressiv …
READ MORE“The Fed’s Anti-Inflation Exit Strategy Will Fail”
“Federal Reserve Chairman Ben Bernanke has explained his exit strategy to prevent future inflation. The Fed recently began to pay interest to banks on the reserves they hold in their vaults. Using this new tool, it claims the ability to get banks to ke …
READ MOREA History of the Federal Reserve: 1913-1951
“A history of the Federal Reserve is a history of the decisions made and the ideas that prompted them. The chapters that follow allow the participants to explain their action and the reasons for them, in their own words. These decisions produced very d …
READ MOREInterview With George Selgin
“I use the term to mean laissez-faire banking — banking without any special government regulations or restrictions. Like free trade, it’s an ideal concept. It doesn’t refer to any specific or actual banking system, although some, like Scotland’s in the …
READ MOREBernanke is Time’s Person of the Year
Bernanke is Time’s Person of the Year Steve Horwitz The Austrian Economists
READ MOREThe Rationale of Central Banking and the Free Banking Alternative
“In the present century centralised banking systems have come to be regarded as the usual concomitant, if not one of the conditions of the attainment of an advanced stage of economic development. The belief in the desirability of central bank organisat …
READ MOREReserve Requirements of Member Banks of the Federal Reserve System
Research Reports – 08/23/1954
READ MOREThe Commercial Banks Sell Government Securities
Research Reports – 07/20/1953
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