Tom Duncan
at Sound Money Project
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“The Role of Monetary Policy”
“There is wide agreement about the major goals of economic policy: high employment, stable prices, and rapid growth. There is less agree-ment that these goals are mutually compatible or, among those who re-gard them as incompatible, about the terms at which they can and should be substituted for one another. There is least agreement about…
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The Housing Boom and Bust
“Now, in The Housing Boom and Bust (Basic Books), Sowell contemplates the greatest expansion of government power in a generation, which was itself occasioned by the greatest economic crisis in as long. A quick but thorough guide to the causes of the crises, Sowell’s book shows how government policies led to a huge increase in…
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“Fed Watch: Europe Debt Crisis May Lead to More Cautious FOMC”
“Federal Reserve officials could express more caution about the U.S. economy’s recovery after their meeting this week, giving them additional reason to keep short-term interest rates close to zero for a while. The three meetings of the Fed’s policy-setting body so far this year have all ended with the U.S. central bank giving a gradually…
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“Motionless Fed Likely to Provide No Cheer”
“No news isn’t always good news. When Federal Reserve officials meet this week, almost two months will have passed since their last policy-setting conclave, the longest such stretch of the year. And it has been a pretty woeful period for financial markets. Since the Fed’s last meeting ended April 28, market volatility has surged, the…
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“China May Have Dug a Financial Hole”
“In late 2008, with the financial crisis rippling through the global economy, China’s leaders embarked on a two-year, $586 billion spending program to try to stave off a recession and keep the Chinese economy growing. Unlike in the United States — where President Obama’s large stimulus plan became the subject of protracted congressional wrangling and…
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“The Folly of Currency Pegs”
“The current flap over the sustainability of Greece’s membership in the European Economic and Monetary Union (EMU) is reminiscent, in many ways, of the events leading up to the collapse of the Bretton Woods system—another ultimately untenable currency regime—which was put into place after World War II and terminated by the break of the dollar’s…
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“Monetarism Defiant” – Anna Schwartz on the Fed
“Anna Schwartz must be the oldest active revolutionary on earth. Born in 1915 in New York, she can still be found nearly every day at her office in the National Bureau of Economic Research on Fifth Avenue, where she has been tirelessly gathering data since 1941. And as her experience proves, data can transform the…
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“The Great Depression According to Milton Friedman”
“Few events in U.S. history can rival the Great Depression for its impact. The period from 1929 to 1941 saw fundamental changes in the landscape of American politics and economics, including such monumental events as America ’s going off the gold standard and the founding of Social Security. It was a watershed for the growth…
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“A Stable Price Level Standard for Federal Reserve Monetary Policy”
“In a recent article in the Cato Journal dealing with the transparency of Federal Reserve monetary policy, Federal Open Market Committee (FOMC) Chairman Ben Bernanke provided an authoritative account of current Federal Reserve strategy (Cato Journal, vol. 28, No. 2, Spring/Summer, 2008, “The Fed’s Road Toward Greater Transparency,” pp. 175-186). Bernanke notes that “inflation-targeting” does…
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“Fed limits card fees to $25”
“Most credit card penalties will be limited to $25 and fees for customers who don’t use their cards will be eliminated under rules released Tuesday by the Federal Reserve. The Fed also ordered a review of all credit card interest rate hikes imposed since January 2009, including most of the record increases that came in…
-
“The Role of Monetary Policy”
“There is wide agreement about the major goals of economic policy: high employment, stable prices, and rapid growth. There is less agree-ment that these goals are mutually compatible or, among those who re-gard them as incompatible, about the terms at which they can and should be substituted for one another. There is least agreement about…
-
The Housing Boom and Bust
“Now, in The Housing Boom and Bust (Basic Books), Sowell contemplates the greatest expansion of government power in a generation, which was itself occasioned by the greatest economic crisis in as long. A quick but thorough guide to the causes of the crises, Sowell’s book shows how government policies led to a huge increase in…
-
“Fed Watch: Europe Debt Crisis May Lead to More Cautious FOMC”
“Federal Reserve officials could express more caution about the U.S. economy’s recovery after their meeting this week, giving them additional reason to keep short-term interest rates close to zero for a while. The three meetings of the Fed’s policy-setting body so far this year have all ended with the U.S. central bank giving a gradually…
-
“Motionless Fed Likely to Provide No Cheer”
“No news isn’t always good news. When Federal Reserve officials meet this week, almost two months will have passed since their last policy-setting conclave, the longest such stretch of the year. And it has been a pretty woeful period for financial markets. Since the Fed’s last meeting ended April 28, market volatility has surged, the…
-
“China May Have Dug a Financial Hole”
“In late 2008, with the financial crisis rippling through the global economy, China’s leaders embarked on a two-year, $586 billion spending program to try to stave off a recession and keep the Chinese economy growing. Unlike in the United States — where President Obama’s large stimulus plan became the subject of protracted congressional wrangling and…
-
“The Folly of Currency Pegs”
“The current flap over the sustainability of Greece’s membership in the European Economic and Monetary Union (EMU) is reminiscent, in many ways, of the events leading up to the collapse of the Bretton Woods system—another ultimately untenable currency regime—which was put into place after World War II and terminated by the break of the dollar’s…
-
“Monetarism Defiant” – Anna Schwartz on the Fed
“Anna Schwartz must be the oldest active revolutionary on earth. Born in 1915 in New York, she can still be found nearly every day at her office in the National Bureau of Economic Research on Fifth Avenue, where she has been tirelessly gathering data since 1941. And as her experience proves, data can transform the…
-
“The Great Depression According to Milton Friedman”
“Few events in U.S. history can rival the Great Depression for its impact. The period from 1929 to 1941 saw fundamental changes in the landscape of American politics and economics, including such monumental events as America ’s going off the gold standard and the founding of Social Security. It was a watershed for the growth…
-
“A Stable Price Level Standard for Federal Reserve Monetary Policy”
“In a recent article in the Cato Journal dealing with the transparency of Federal Reserve monetary policy, Federal Open Market Committee (FOMC) Chairman Ben Bernanke provided an authoritative account of current Federal Reserve strategy (Cato Journal, vol. 28, No. 2, Spring/Summer, 2008, “The Fed’s Road Toward Greater Transparency,” pp. 175-186). Bernanke notes that “inflation-targeting” does…
-
“Fed limits card fees to $25”
“Most credit card penalties will be limited to $25 and fees for customers who don’t use their cards will be eliminated under rules released Tuesday by the Federal Reserve. The Fed also ordered a review of all credit card interest rate hikes imposed since January 2009, including most of the record increases that came in…
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