“Let us all hope that disinflation proceeds expeditiously and, if it does, we remain mindful that the outcome is in spite of, rather than owing to, central bankers and their narrow assortment of lagging and unpredictable policy instruments.” ~ Peter C. Earle
READ MORE“FOMC member projections suggest that inflation will come down only gradually over the next two to three years and that the price level will remain permanently elevated.” ~ William J. Luther
READ MORE“Economists use aggregate demand and aggregate supply (AS-AD model) to understand how inflation and real income growth are jointly determined.” ~ Bryan Cutsinger & Alexander William Salter
READ MORE“The key point is that it is the central bank’s willingness to help finance government spending, not the spending itself, that drives inflation. In short: inflation remains a monetary phenomenon.” ~ Bryan Cutsinger
READ MORE“The Fed is a failed institution in need of major reforms. But we won’t make the right changes if we don’t understand the basic relationship between central banks and capital markets.” ~ Alexander William Salter
READ MORE“Where did all this inflation come from? Supply-side issues are a problem, but in terms of magnitudes, it just doesn’t make sense to call them the chief contributor.” ~ Alexander William Salter
READ MORE“The decision FOMC members make in February will depend on the inflation data released between now and then—and how Fed officials interpret that data.” ~ William J. Luther
READ MORE“The HDAY Index and TDAY Index lead to the same irrefutable conclusion: the ongoing cost of policies implemented to mitigate the spread of COVID are large and, almost three years later, proving disconcertingly persistent.” ~ Peter C. Earle
READ MORE“In this video, Kate Wand sat down with AIER Senior Research Faculty Thomas Hogan to discuss the Federal Reserve’s expanding objectives and how they affect its ability to conduct monetary policy.” ~ AIER
READ MORE“High shipping prices have had a provably inconsequential effect on the general price level over the past two years. Expansionary monetary policies remain the prime culprit for the high prices and other economic distortions that persist in the US economy.” ~ Peter C. Earle
READ MORE“The historical record is clear: Gold-backed money is fully capable of delivering short-run stability and long-run prosperity. The Fed can’t.” ~ David Brat & Alexander William Salter
READ MORE“This simple model is a good first approximation to aggregate economic performance. Economists know this. Unfortunately, they sometimes ignore it for partisan reasons.” ~ Alexander William Salter
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