“Woke” Fed Fell Asleep on the Job
“With inflation raging at the highest rate in 40 years, it is time to reexamine the Fed’s legitimate responsibilities.” ~ Nicholas Curott & James McClure
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Video: Who Is to Blame for Inflation?
“Is ‘Putin’s Price Hike’ real? Are supply chain disturbances the most significant source of inflation, or is there more to the story? Thomas Hogan gives us his perspective on the causes of inflation.” ~ Kate Wand
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Inflation: What Causes It, and When Will it Subside?
“The growth rate of currency in circulation has been back to pre-crisis rates for at least 2 quarters. We should expect inflation and the growth rate of expenditures to follow and inflationary winds to subside as a result.” ~ James L. Caton
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Should the Fed Devalue Our Currency to Implement Negative Interest Rates?
“Where Agarwal and Kimball comment that the zero lower bound ‘is not a law of nature, but a policy choice,’ I suggest that the same is true about the need to fight an excess demand for money by cutting an interest rate instrument or target.” ~ Lawrence H. White
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A Drinking Man’s Guide to Monetary Policy
“Just like drinking, expansionary monetary policy can provide a temporary (or transitory) high at first (faster real output growth and reduced unemployment). However, the ill effects come later (in an inflation “hangover”).” ~ Gary M. Galles
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The Federal Reserve’s Moving Target
“If persistent deviations from the Federal Reserve’s target can be costly in terms of resource misallocation, imagine the costs associated with simultaneous fluctuations in both inflation and its target for inflation.” ~ Joshua Hendrickson
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For the Least of These: Against Inflation Economics
“To tame the inflationary beast and to build a more humane economy, especially for the poor, we need to grapple with inflation’s practical and moral effects.” ~ Dylan Pahman & Alexander William Salter
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Lisa Cook is Unqualified for the Federal Reserve Board
“It’s time to end mandate drift once and for all. We need qualified nominees who understand the proper role of monetary policy. Unfortunately, Dr. Cook falls short on both counts.” ~ Alexander William Salter
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The Fed is Responsible for Great Inflations
“It’s time the Fed accepts responsibility and moves decisively to curb inflation before the problem gets even worse. Volcker’s Fed whipped inflation, and Powell’s Fed can, too.” ~ Nicholas Curott & Tyler A. Watts
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Prices Continue to Rise, Exceeding Fed Projections
“The Fed seems resolved to see inflation climb further. I expect FOMC members will revise up their projections of inflation again in June. They should revise their course of action, to bring inflation down as planned, instead.” ~ William J. Luther
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Asymmetric Average Inflation Targeting and Expectations
“A conventional average inflation target would have anchored expectations and reduced the inflation risk of long-term contracting, promoting economic growth in the process. An asymmetric average inflation target falls far short of that goal.” ~ William J. Luther
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Supply Disturbances Do Not Explain High Inflation
“Unfortunately for the administration, their politically-convenient supply-side stories explain far too little. Today’s inflation is primarily the result of excessive nominal spending, which the Fed could have and should have offset.” ~ William J. Luther
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