Central Banking
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Bigger Isn’t Better: A Case for Downsizing the Federal Reserve
Does the Fed need 24,000 employees? A leaner, more automated institution could reduce costs and improve transparency.
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Monetary Policy Rules Suggest Fed Should Hold Steady in March
The federal funds rate is already lower than levels recommended by several well-known policy guidelines. Recent uncertainty does not justify further easing.
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Fed Officials Face Diverging Mandates
Evidence suggests that inflation is relatively widespread, job creation has weakened, the Fed will likely hold the policy rate steady.
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Inflation Edged Up in February, But Core Price Pressures Ease
The data suggest nominal spending and wage growth are stable, and easing policy too quickly could risk reigniting price pressures.
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Central Banks Can’t Stop Wars
Central banks face pressure to absorb oil shortages and other shocks, but tightening money risks compounding the damage.
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Business Conditions Monthly December 2025
Capital spending in manufacturing, energy, and AI-related sectors are nudging growth forward amid rising fiscal uncertainty and a cautious Fed.
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Delayed Data Unlikely to Resolve Disagreements at Fed
Fresh data confirm lingering inflation, but data disruptions, policy shocks, and political pressures are complicating the Fed’s next move.
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Should the Fed Abandon Its 2 Percent Target for an Inflation Range?
While inflation ranges may offer technical advantages, they risk blurring accountability and weakening confidence in the Federal Reserve when clarity is most needed.
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Warsh or Not, The Fed’s Next Chair Will Inherit Too Much Power
“Emergency” powers, half a trillion in daily liquidity, and ever-expanding authority create far too much discretion for one individual.
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The Fed Takes a Wait-and-See Approach
Labor markets are stabilizing and inflation has leveled off. Further easing would’ve risked recent progress toward price stability.
-
•
Bigger Isn’t Better: A Case for Downsizing the Federal Reserve
Does the Fed need 24,000 employees? A leaner, more automated institution could reduce costs and improve transparency.
-
•
Monetary Policy Rules Suggest Fed Should Hold Steady in March
The federal funds rate is already lower than levels recommended by several well-known policy guidelines. Recent uncertainty does not justify further easing.
-
•
Fed Officials Face Diverging Mandates
Evidence suggests that inflation is relatively widespread, job creation has weakened, the Fed will likely hold the policy rate steady.
-
•
Inflation Edged Up in February, But Core Price Pressures Ease
The data suggest nominal spending and wage growth are stable, and easing policy too quickly could risk reigniting price pressures.
-
•
Central Banks Can’t Stop Wars
Central banks face pressure to absorb oil shortages and other shocks, but tightening money risks compounding the damage.
-
•
Business Conditions Monthly December 2025
Capital spending in manufacturing, energy, and AI-related sectors are nudging growth forward amid rising fiscal uncertainty and a cautious Fed.
-
•
Delayed Data Unlikely to Resolve Disagreements at Fed
Fresh data confirm lingering inflation, but data disruptions, policy shocks, and political pressures are complicating the Fed’s next move.
-
•
Should the Fed Abandon Its 2 Percent Target for an Inflation Range?
While inflation ranges may offer technical advantages, they risk blurring accountability and weakening confidence in the Federal Reserve when clarity is most needed.
-
•
Warsh or Not, The Fed’s Next Chair Will Inherit Too Much Power
“Emergency” powers, half a trillion in daily liquidity, and ever-expanding authority create far too much discretion for one individual.
-
•
The Fed Takes a Wait-and-See Approach
Labor markets are stabilizing and inflation has leveled off. Further easing would’ve risked recent progress toward price stability.