Central Banking
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A Central Bank Reckoning
“Even the best set of rules and the tightest, most targeted, narrowly circumscribed mandate won’t be enough unless central bankers are willing to emulate something akin to judicial restraint.” ~ Samuel Gregg
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Interest Rates and Fed Tightening
“While interest rates can sometimes be useful as a policy barometer, the various monetary measures (from the monetary base at narrowest to total nominal expenditures at broadest) matter far more.” ~ Alexander William Salter
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Fed Up With the Fed
“The Hamilton-Bagehot rule was superior to the modern Fed practice of flooding the markets with cheap money because it allowed insolvent firms to go bankrupt while supplying emergency loans to troubled but solvent companies.” ~ Robert E. Wright
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The Fed’s Tough Year
“The current push to expand the Fed’s mandates is consistent with Shull’s Paradox, which states that the more blunders the Fed makes, the more powers and prestige it gets. But we should be reducing the Fed’s powers and mandates, not increasing them.” ~ Alex J. Pollock
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The Fed’s Share of Public Debt: Worsening Withdrawal Symptoms?
“Can Congress quit the Fed’s easy money policy that has allowed them to push debt levels well above 100% of GDP, or will the addiction demand more QE to support Washington’s spending habit?” ~ Peter T. Calcagno & Edward J. Lopez
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Strike Three for the Federal Reserve
“No batter always gets on base but America, nay the world, has a high-quality pinch hitter that it benched a century ago: the Gold Standard. It’s not perfect but it is far better, and fairer, than the Fed.” ~ Robert E. Wright
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Can The Fed Save Us?
“The realities of Public Choice should make everyone think twice when asserting that the Fed or any agency should be doing something specific to fix the economy and that they will be able to make the right choice.” ~ Fernando M. D’Andrea & Ryan M. Yonk
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Paul Krugman and the “Ersatz” Theory of Private Currencies
“Private paper currencies, including notes issued by ordinary commercial banks without the benefit of official guarantees, have never been driven to extinction by the mere presence of official alternatives.” ~ George Selgin
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In Bernanke We Trust?
“When central banking’s role is understood in neo-Keynesian terms—i.e., from a macroeconomic standpoint that emphasizes top-down demand-side management of the economy—it’s easy to understand why central bankers might gradually succumb to a Masters-of-the-Universe mindset.” ~ Samuel Gregg
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CBDCs and the Fed (Video)
“This two-part video series, featuring Kate Wand and Thomas Hogan, explores the possibilities and dangers of the United States implementing its own central bank digital currency.” ~ AIER
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•
A Central Bank Reckoning
“Even the best set of rules and the tightest, most targeted, narrowly circumscribed mandate won’t be enough unless central bankers are willing to emulate something akin to judicial restraint.” ~ Samuel Gregg
-
•
Interest Rates and Fed Tightening
“While interest rates can sometimes be useful as a policy barometer, the various monetary measures (from the monetary base at narrowest to total nominal expenditures at broadest) matter far more.” ~ Alexander William Salter
-
•
Fed Up With the Fed
“The Hamilton-Bagehot rule was superior to the modern Fed practice of flooding the markets with cheap money because it allowed insolvent firms to go bankrupt while supplying emergency loans to troubled but solvent companies.” ~ Robert E. Wright
-
•
The Fed’s Tough Year
“The current push to expand the Fed’s mandates is consistent with Shull’s Paradox, which states that the more blunders the Fed makes, the more powers and prestige it gets. But we should be reducing the Fed’s powers and mandates, not increasing them.” ~ Alex J. Pollock
-
•
The Fed’s Share of Public Debt: Worsening Withdrawal Symptoms?
“Can Congress quit the Fed’s easy money policy that has allowed them to push debt levels well above 100% of GDP, or will the addiction demand more QE to support Washington’s spending habit?” ~ Peter T. Calcagno & Edward J. Lopez
-
•
Strike Three for the Federal Reserve
“No batter always gets on base but America, nay the world, has a high-quality pinch hitter that it benched a century ago: the Gold Standard. It’s not perfect but it is far better, and fairer, than the Fed.” ~ Robert E. Wright
-
•
Can The Fed Save Us?
“The realities of Public Choice should make everyone think twice when asserting that the Fed or any agency should be doing something specific to fix the economy and that they will be able to make the right choice.” ~ Fernando M. D’Andrea & Ryan M. Yonk
-
•
Paul Krugman and the “Ersatz” Theory of Private Currencies
“Private paper currencies, including notes issued by ordinary commercial banks without the benefit of official guarantees, have never been driven to extinction by the mere presence of official alternatives.” ~ George Selgin
-
•
In Bernanke We Trust?
“When central banking’s role is understood in neo-Keynesian terms—i.e., from a macroeconomic standpoint that emphasizes top-down demand-side management of the economy—it’s easy to understand why central bankers might gradually succumb to a Masters-of-the-Universe mindset.” ~ Samuel Gregg
-
•
CBDCs and the Fed (Video)
“This two-part video series, featuring Kate Wand and Thomas Hogan, explores the possibilities and dangers of the United States implementing its own central bank digital currency.” ~ AIER