Topic: Monetary Policy

Cryptocurrency, Economic Education, Economic History, Monetary Policy

Making Money Myths

– February 14, 2022

“NQA banknote systems have existed in the past. It follows that private NQA paper currency is perfectly possible. It might still be true, of course, that private NQA digital currency isn’t possible. But if I were you, I wouldn’t take Gary Gorton’s word for it.” ~ George Selgin

Central Banking, Crisis, Economic History, Monetary Policy

Did Ben Bernanke Implement QE before the 2008 Financial Crisis?

– February 14, 2022

“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

Central Banking, Inflation, Monetary Policy, Unemployment

Is This What Monetary Tightening Looks Like?

– February 6, 2022

“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

Central Banking, Crisis, Government, Monetary Policy

Biden’s Fed Nominees a Tit-for-Tat Response to Trump’s

– February 3, 2022

“Fortunately, especially for the regular people who would stand to suffer the most under a politicized Fed, there were enough conservatives to band together to block Trump. Will there be enough principled liberals to sanction Biden?” ~ Daniel J. Smith

Central Banking, Crisis, Government, Monetary Policy

Political Partisanship Has No Place at the Federal Reserve

– February 3, 2022

“The Fed already lost credibility by missing its stated inflation target, and the nomination of partisan actors such as Cook would further throttle its credibility.” ~ Phillip W. Magness & David Waugh

Central Banking, Crisis, Government, Monetary Policy

What Did the Fed Know in the Great Recession?

– February 2, 2022

“The Fed’s poor forecasting record should make us skeptical of its ability to effectively manage the money supply in times of economic turmoil. It would be prudent to consider structural reforms that might improve FOMC’s decision-making process.” ~ Thomas L. Hogan

Economic Education, Government, Inflation, Monetary Policy

Greedy Corporations and Inflation

– January 29, 2022

“Only a monetary policy geared to reduce inflation will be effective in reducing inflation. This is as true now as when the Federal Reserve lowered inflation in the early 1980s.” ~ Gerald P. Dwyer

Fiscal Policy, International, Monetary Policy

The Year of the Strong Dollar

– January 27, 2022

“The urgency to correct the country’s large public finances is likely to be heightened by a further widening in the trade deficit in 2022 as the consequence of a stronger dollar and the relative strength of the U.S. economy.” ~ Desmond Lachman

Art and Culture, Fiscal Policy, Government, Monetary Policy

Don’t Look Up: The Allegory We’ve Been Waiting For

– January 24, 2022

“McKay’s dark satire about the inability to warn most people of impending danger before it’s too late should resonate with all who strive for sound money, fiscal sobriety, personal responsibility, and limited government.” ~ Peter C. Earle

Books, Central Banking, Economic Education, Monetary Policy

The Money Illusion: A Review

– January 21, 2022

“‘Nothing is as it seems in the world of money,’ Sumner concludes, and worse so as of late. In his grand attempt at rectifying the many blunders in understanding the Great Recession, there’s something for everyone to learn.” ~ Joakim Book

Economic Education, Government, Monetary Policy

Does Monetary Policy Matter?

– January 13, 2022

“The Fed’s actual performance has not been ideal. Its monetary policy mistakes have had dire consequences for ordinary Americans and the US economy. Those mistakes make it clear that monetary policy matters.” ~ Thomas L. Hogan

Central Banking, Economic Education, Financial Markets, Monetary Policy

Forecasting Prices from FOMC Projections

– January 8, 2022

“While the period of time over which the Fed is committed to averaging inflation is not explicit, one might have reasonably expected it to ultimately offset the high inflation associated with the pandemic. Alas, that no longer appears to be the case.” ~ William J. Luther