Topic: Sound Money Project

Financial bubbles and macro prudential policy

– September 30, 2015

In the field of monetary policy, there is one question that must necessarily be addressed: what should a central bank do in light of a financial bubble? Should it try to burst the bubble as soon as it arises or engage in damage control after a financia …

Sound Money Project

The nature of central banking and the importance of a monetary constitution

– September 28, 2015

In my previous posts, I argued that it is imperative to secure a monetary policy regime that adheres to the rule of law. In this post, I will extend the argument further: truly lawful money requires a monetary constitution of some kind. There is actua …

Sound Money Project

The Rupiah is in trouble, again

– September 23, 2015

By Steve H. Hanke This article appeared in the October 2015 issue of Globe Asia. The rupiah is plumbing the depths it last visited in 1998 during the Asian financial crisis. The accompanying chart of the rupiah’s value against the U.S. dollar tells the …

Sound Money Project

Op-ed: The Fed, killing economic growth softly

– September 22, 2015

Economic growth results from business owners making successful plans to invest and meet customer needs over time, but the unpredictable machinations of central banks like the Federal Reserve throw a monkey wrench in that economic calculation process. T …

Sound Money Project

Raising interest rates: The Fed vs. The Treasury?

– September 21, 2015

In its latest meeting, the Federal Open Market Committee (FOMC) decided to not increase the Federal funds rate target, extending the lower zero bound policy until at least their next meeting. Although the decision was not unexpectable, some people did …

Sound Money Project

Op-ed: It’s time to reconsider the Fed’s Dual Mandate

– September 18, 2015

By Jared Meyer and Johannes Schmidt This piece originally appeared on Forbes.com All this week, people anxiously awaited results from the Federal Reserve’s Federal Open Market Committee meeting in Washington, D.C. Though many expected the FOMC would de …

Sound Money Project

Op-ed: Don’t ask if the Fed will raise interest rates, it’s the wrong question

– September 16, 2015

Central banks are vested with a tremendous amount of economic power, but there’s no real reason to think that they wield that power wisely. As the U.S. Federal Reserve’s Federal Open Market Committee begins its scheduled meeting, Atlas Network Sound Mo …

Sound Money Project

The moral obligation of monetary policy

– September 14, 2015

When the monetary authority fools people into thinking inflation will be lower than it turns out to be, individuals produce more than they would if they had not been fooled.

Sound Money Project

A different kind of monetary control

– September 9, 2015

This piece was written in response to a recent Financial Times editorial. Have you ever doubted the real reasons governments throughout history and all over the world want to control what ‘we the people’ choose to use “as money?” The reasons people wan …

Sound Money Project

Confusion and contradiction at the Fed

– September 4, 2015

By Michael Belongia and Peter Ireland Over the past several years, Federal Reserve officials have issued multiple and often conflicting statements about whether their federal funds rate target should be increased and, if so, when that change should occ …

Sound Money Project

Money and the rule of law, continued

– September 3, 2015

In my last post, I argued that monetary regimes should be judged not just on macroeconomic grounds, but also on whether they adhere to the rule of law. In this post, I want to extend that argument: the rule of law should be the primary consideration f …

Sound Money Project

The Sound Money Project takes on the Fed at the Jackson Hole Summit

– September 1, 2015

From left to right: Sound Money Editor Johannes Schmidt, Dr. William Luther of the Sound Money Project, U.S. Senate Banking Committee Chief Economist and former Sound Money Project Fellow Dr. Thomas Hogan, Atlas Network Senior Fellow and Sound Money Pr …