William J. Luther
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Will Lower Inflation Halt Rate Hikes?
“No matter how you slice it, real rates look sufficiently restrictive to bring down inflation. Indeed, they may be overly restrictive at this stage in the tightening cycle.” ~ William J. Luther
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Competition, Virtue, and the PGA-LIV Saga
“Monopolies often fear competition more than they fear government: You can lobby government for ongoing favoritism but in a free economy, you must compete.” ~ David Hebert, John Pinheiro, and Daniel Wagner
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Inflation is Slowing. Will the Fed?
“Monetary policy works with long and variable lags. Inflation is slowing, but it will take some time to come down. Fed officials should not be too concerned about elevated core inflation.” ~ William J. Luther
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What Should The Fed Do When It Hasn’t Done What It Should’ve Done?
“We are likely at the point where the risk of doing too much exceeds the risk of doing too little. It makes sense for the Fed to hold for now, and see how the incoming data looks over the next few months.” ~ William J. Luther
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Has the Disinflation Process Stalled?
“Fed officials may worry that the disinflation process has stalled. For this reason, the latest data likely increases uncertainty about the future course of monetary policy.” ~ William J. Luther
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The Greedflation Myth
“Politicians on the left would like us to believe inflation is caused by greedy corporations. And some academics are all too happy to provide them with theoretical cover.” ~ William J. Luther
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More Sensational Reporting on COVID-19 Estimates
We should certainly take steps to reduce those risks. But we should not sacrifice everything out of fear of losing something. Alas, such sober analysis does not lend itself to the sort of attention-grabbing click pieces that pay the bills for journalists. So we should continue to expect sensational reporting on the global pandemic. Discount…
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Good Reasons to Doubt the Estimate of COVID-19 Deaths
Many popular accounts mistake an implausible upper-bound estimate for the most likely outcome. The underlying study actually suggests the number of deaths will be much lower.
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What Arthur Burns Broke, Paul Volcker Fixed
Inflation came down and stayed down. Indeed, the public came to believe the Fed chair was willing to do whatever it takes to keep inflation low and steady.
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Student Loan Forgiveness Is Bad Policy
The benefits of higher education fall almost entirely on the recipient. So should the costs.
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•
Will Lower Inflation Halt Rate Hikes?
“No matter how you slice it, real rates look sufficiently restrictive to bring down inflation. Indeed, they may be overly restrictive at this stage in the tightening cycle.” ~ William J. Luther
-
•
Competition, Virtue, and the PGA-LIV Saga
“Monopolies often fear competition more than they fear government: You can lobby government for ongoing favoritism but in a free economy, you must compete.” ~ David Hebert, John Pinheiro, and Daniel Wagner
-
•
Inflation is Slowing. Will the Fed?
“Monetary policy works with long and variable lags. Inflation is slowing, but it will take some time to come down. Fed officials should not be too concerned about elevated core inflation.” ~ William J. Luther
-
•
What Should The Fed Do When It Hasn’t Done What It Should’ve Done?
“We are likely at the point where the risk of doing too much exceeds the risk of doing too little. It makes sense for the Fed to hold for now, and see how the incoming data looks over the next few months.” ~ William J. Luther
-
•
Has the Disinflation Process Stalled?
“Fed officials may worry that the disinflation process has stalled. For this reason, the latest data likely increases uncertainty about the future course of monetary policy.” ~ William J. Luther
-
•
The Greedflation Myth
“Politicians on the left would like us to believe inflation is caused by greedy corporations. And some academics are all too happy to provide them with theoretical cover.” ~ William J. Luther
-
•
More Sensational Reporting on COVID-19 Estimates
We should certainly take steps to reduce those risks. But we should not sacrifice everything out of fear of losing something. Alas, such sober analysis does not lend itself to the sort of attention-grabbing click pieces that pay the bills for journalists. So we should continue to expect sensational reporting on the global pandemic. Discount…
-
•
Good Reasons to Doubt the Estimate of COVID-19 Deaths
Many popular accounts mistake an implausible upper-bound estimate for the most likely outcome. The underlying study actually suggests the number of deaths will be much lower.
-
•
What Arthur Burns Broke, Paul Volcker Fixed
Inflation came down and stayed down. Indeed, the public came to believe the Fed chair was willing to do whatever it takes to keep inflation low and steady.
-
•
Student Loan Forgiveness Is Bad Policy
The benefits of higher education fall almost entirely on the recipient. So should the costs.