Central Banking
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What Should the Federal Reserve Do Now?
“Inflation is running above 2 percent by any measure, and a current temporarily higher rate on short-term securities can reassure markets that the Federal Reserve is aiming at a lower inflation rate.” ~Gerald P. Dwyer
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Another Rate Hike? Let’s Not
“Interest rate and liquidity data point to the same conclusion: monetary policy is sufficiently tight. Further tightening could cause a painful economic contraction.” ~Alexander W. Salter
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How To Be Accidentally Right, Central Banking Style
“Money is broken, and while these activists might not be able to explain how, they’re not wrong in pointing their fingers at the monetary authority at the center of it all.” ~Joakim Book
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Fed Continues to Signal Another Rate Hike
“If core inflation is more or less on track, why are most FOMC members projecting another rate hike?” ~William J. Luther
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Is Dollarization a Mirage?
“Dollarization would serve as a firewall, protecting the private sector from the fiscal policy fallout.” ~Nicolas Cachanosky
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David Malpass on Inflation and Slow Growth
“If we try to push supply-side economics as an inflation-reduction strategy, we’re setting ourselves up for failure by banking on a problem that’s largely solved.” ~ Alexander W. Salter
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Don’t Panic over the Latest Inflation Numbers
“To put it plainly, monetary policy is already tight enough. The Fed’s job now is to stay the course.” ~ Alexander W. Salter
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Without Rules, the Fed Rules
“Committing to a rule significantly lowers the cost of evaluating Fed policy. And lowering the cost of evaluating Fed policy could make it very clear to a great many people that the Fed is up to no good.” ~ Alexander W. Salter
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Dollarization and the Lender of Last Resort
“Typically, there is little risk of losing a lender of last resort in countries with troubled currencies that are considering dollarization because such countries don’t have a lender of last resort to lose.” ~ Nicolas Cachanosky
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Entrepreneurs Thrived During America’s Free Banking Era
“Entrepreneurs thrived during the era of free banking in the United States, even with restrictive banking laws, which handicapped private banks from being more efficient.” ~ Michael N. Peterson
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•
What Should the Federal Reserve Do Now?
“Inflation is running above 2 percent by any measure, and a current temporarily higher rate on short-term securities can reassure markets that the Federal Reserve is aiming at a lower inflation rate.” ~Gerald P. Dwyer
-
•
Another Rate Hike? Let’s Not
“Interest rate and liquidity data point to the same conclusion: monetary policy is sufficiently tight. Further tightening could cause a painful economic contraction.” ~Alexander W. Salter
-
•
How To Be Accidentally Right, Central Banking Style
“Money is broken, and while these activists might not be able to explain how, they’re not wrong in pointing their fingers at the monetary authority at the center of it all.” ~Joakim Book
-
•
Fed Continues to Signal Another Rate Hike
“If core inflation is more or less on track, why are most FOMC members projecting another rate hike?” ~William J. Luther
-
•
Is Dollarization a Mirage?
“Dollarization would serve as a firewall, protecting the private sector from the fiscal policy fallout.” ~Nicolas Cachanosky
-
•
David Malpass on Inflation and Slow Growth
“If we try to push supply-side economics as an inflation-reduction strategy, we’re setting ourselves up for failure by banking on a problem that’s largely solved.” ~ Alexander W. Salter
-
•
Don’t Panic over the Latest Inflation Numbers
“To put it plainly, monetary policy is already tight enough. The Fed’s job now is to stay the course.” ~ Alexander W. Salter
-
•
Without Rules, the Fed Rules
“Committing to a rule significantly lowers the cost of evaluating Fed policy. And lowering the cost of evaluating Fed policy could make it very clear to a great many people that the Fed is up to no good.” ~ Alexander W. Salter
-
•
Dollarization and the Lender of Last Resort
“Typically, there is little risk of losing a lender of last resort in countries with troubled currencies that are considering dollarization because such countries don’t have a lender of last resort to lose.” ~ Nicolas Cachanosky
-
•
Entrepreneurs Thrived During America’s Free Banking Era
“Entrepreneurs thrived during the era of free banking in the United States, even with restrictive banking laws, which handicapped private banks from being more efficient.” ~ Michael N. Peterson