On February 5, 2010, our friends at the Cato Institute will be hosting a Capitol Hill Briefing, “Greed, Irresponsibility, or Policy Mistakes: What Caused the Recession?”. Go here for more information and registration. The deadline to register is Thursday, February 4, 2010.
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March’s inflation spike looks alarming, but it's driven entirely by energy shocks. Strip that out and the trend looks largely unchanged.
The Fed’s lack of clear rules makes it vulnerable to outside pressure. A commitment to price stability could force Congress to confront its own excesses.
Inflation is well above two percent, but rate paths haven't moved. The disconnect suggests a shift in how much inflation the Fed is willing to tolerate.
