Tom Duncan
at Sound Money Project
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“Dollar Near Eight-Month Low”
“The dollar traded near an eight-month low against the yen on speculation the Federal Reserve will take more credit easing measures to revive its flagging economic recovery, diminishing the appeal of U.S. assets. The greenback was close to its lowest level in three months versus the euro before a U.S. report today that economists said…
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“Less than Zero: The Case for a Falling Price Level in a Growing Economy”
“Not long ago, many economists were convinced that monetary policy should aim at achieving ‘full employment’. Those who looked upon monetary expansion as a way to eradicate almost all unemployment failed to appreciate that persistent unemployment is a non-monetary or ‘natural’ economic condition, which no amount of monetary medicine can cure. Today most of us…
-
“Federal Reserve Information and the Behavior of Interest Rates”
“This paper tests for the existence of asymmetric information between the Federal Reserve and the public by examining Federal Reserve and commercial inflation forecasts. It demonstrates that the Federal Reserve has considerable information about inflation beyond what is known to commercial forecasters. It also shows that monetary-policy actions provide signals of the Federal Reserve’s information…
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The Money Debate
In the battle of ideologies, the libertarian always faces certain disadvantages. The foundation is, as the name implies, liberty. Yet there is no strict use towards which “liberty” can be put. It is a somewhat amorphous idea, and context changes its meaning. That is not to say that an individual libertarian is inconsistent, or at…
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“Money in the 1920s and 1930s”
“One of the most enduring and troublesome mysteries in economics is money: how it is created, what sorts of institutions initiate the process, what kinds of mystique and priestcraft central bankers use in managing monetary systems, and what rules, laws, or customs limit their actions. Perhaps the common ignorance about money is harmless. After all,…
-
“Interest Rates and the Federal Reserve”
“On June 30, 2004, the Federal Reserve Open Market Committee announced it was raising the targeted federal funds interest rate from 1 to 1.25 percent, to begin to prevent a possible future price inflation. The next day the European Central Bank (ECB) decided to leave its targeted interest rate unchanged at 2 percent, even though…
-
“Bernanke Says Rising Wages Will Lift Spending”
“Investors and the public have been closely watching signals about the economy and the Fed’s possible policy moves to address problems. While the United States has “a considerable way to go” for a full recovery, “rising demand from households and businesses should help sustain growth,” Mr. Bernanke said on Monday in a speech in Charleston,…
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Bullard’s Bipoloar Fed Strategy
“Forcing banks to take undue risk for the sake of the economy would result in banks recklessly engaging in the behavior that precipitated the financial crisis in the first place! Banks could still decide not to lend to small businesses and consumers, preferring to party like its 2007 by engaging in LBOs, M&A financing, etc.…
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Inflation: Watering Down the Punch
“With the recent financial crisis macroeconomic issues are receiving more and more attention. Inflation is one of those issues. Many claim inflation to be the cause of the crisis; which has even given the Austrian business cycle theory attention from the media. The theory states that an increase in the money supply causes a false…
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A Conversation with Milton Friedman – Liberty Fund
“Milton Friedman discusses his economic ideas with Gary S. Becker. Recipient of the 1976 Nobel Memorial Prize in Economics, Milton Friedman has long been recognized as one of our most important economic thinkers, and a leader of the Chicago school of monetary economics. A senior research fellow at the Hoover Institution since 1977, he is…
-
“Dollar Near Eight-Month Low”
“The dollar traded near an eight-month low against the yen on speculation the Federal Reserve will take more credit easing measures to revive its flagging economic recovery, diminishing the appeal of U.S. assets. The greenback was close to its lowest level in three months versus the euro before a U.S. report today that economists said…
-
“Less than Zero: The Case for a Falling Price Level in a Growing Economy”
“Not long ago, many economists were convinced that monetary policy should aim at achieving ‘full employment’. Those who looked upon monetary expansion as a way to eradicate almost all unemployment failed to appreciate that persistent unemployment is a non-monetary or ‘natural’ economic condition, which no amount of monetary medicine can cure. Today most of us…
-
“Federal Reserve Information and the Behavior of Interest Rates”
“This paper tests for the existence of asymmetric information between the Federal Reserve and the public by examining Federal Reserve and commercial inflation forecasts. It demonstrates that the Federal Reserve has considerable information about inflation beyond what is known to commercial forecasters. It also shows that monetary-policy actions provide signals of the Federal Reserve’s information…
-
The Money Debate
In the battle of ideologies, the libertarian always faces certain disadvantages. The foundation is, as the name implies, liberty. Yet there is no strict use towards which “liberty” can be put. It is a somewhat amorphous idea, and context changes its meaning. That is not to say that an individual libertarian is inconsistent, or at…
-
“Money in the 1920s and 1930s”
“One of the most enduring and troublesome mysteries in economics is money: how it is created, what sorts of institutions initiate the process, what kinds of mystique and priestcraft central bankers use in managing monetary systems, and what rules, laws, or customs limit their actions. Perhaps the common ignorance about money is harmless. After all,…
-
“Interest Rates and the Federal Reserve”
“On June 30, 2004, the Federal Reserve Open Market Committee announced it was raising the targeted federal funds interest rate from 1 to 1.25 percent, to begin to prevent a possible future price inflation. The next day the European Central Bank (ECB) decided to leave its targeted interest rate unchanged at 2 percent, even though…
-
“Bernanke Says Rising Wages Will Lift Spending”
“Investors and the public have been closely watching signals about the economy and the Fed’s possible policy moves to address problems. While the United States has “a considerable way to go” for a full recovery, “rising demand from households and businesses should help sustain growth,” Mr. Bernanke said on Monday in a speech in Charleston,…
-
Bullard’s Bipoloar Fed Strategy
“Forcing banks to take undue risk for the sake of the economy would result in banks recklessly engaging in the behavior that precipitated the financial crisis in the first place! Banks could still decide not to lend to small businesses and consumers, preferring to party like its 2007 by engaging in LBOs, M&A financing, etc.…
-
Inflation: Watering Down the Punch
“With the recent financial crisis macroeconomic issues are receiving more and more attention. Inflation is one of those issues. Many claim inflation to be the cause of the crisis; which has even given the Austrian business cycle theory attention from the media. The theory states that an increase in the money supply causes a false…
-
A Conversation with Milton Friedman – Liberty Fund
“Milton Friedman discusses his economic ideas with Gary S. Becker. Recipient of the 1976 Nobel Memorial Prize in Economics, Milton Friedman has long been recognized as one of our most important economic thinkers, and a leader of the Chicago school of monetary economics. A senior research fellow at the Hoover Institution since 1977, he is…
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