Inflation
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Bessent vs. Druckenmiller: Bond Vigilantes versus Bond Bureaucrats
Investors are testing the Treasury’s pain threshold. By suppressing yield signals, bond bureaucrats may summon the very bond vigilantes they hope to suppress.
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With Energy Prices Falling, Inflation Has Nowhere to Hide
Spending growth is still outstripping productive capacity, and the Fed can no longer blame high prices on volatile energy markets.
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America Can’t Outgrow $40 Trillion in Debt
Stabilizing the federal debt through growth alone would require 7.3 percent annual real GDP growth. Nothing in our history suggests that’s remotely plausible.
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The Real Cost of $40 Trillion in Debt
Unchecked spending has pushed the federal debt to $40 trillion, weakening the economy and limiting the nation’s options when the next emergency arrives.
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Why Economists Leave Government Spending Out of Inflation Measures
The CPI captures the rising cost of private consumption while leaving the rising cost of government consumption out of the equation.
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July Inflation Rises, But Weakening Labor Complicates Fed’s Choice
The Fed is caught between cooling labor conditions and persistent demand, as nominal spending growth remains above its pre-pandemic pace.
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The Lesson of 1971 Was Never About Gold
President Nixon abandoned the gold standard. The deeper problem was a monetary system dependent on political judgment.
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AIER Everyday Price Index Posts July Dip as Inflation Pressures Cool
Our price index notes modest deflation as lower fuel costs offset increases elsewhere, strengthening the case for stable Fed rates in September.
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Fed’s Task Force Should Fix What It Targets
A nominal spending target would spare The Fed guessing about the causes of inflation. The Chairman’s new task force could apply a rule instead.
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•
Japan’s Debt Crisis Is a Global Warning
Japan can watch debt-service costs consume its budget, or suppress rates and risk inflation. Decades of borrowing have eliminated the easy options.
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•
Bessent vs. Druckenmiller: Bond Vigilantes versus Bond Bureaucrats
Investors are testing the Treasury’s pain threshold. By suppressing yield signals, bond bureaucrats may summon the very bond vigilantes they hope to suppress.
-
•
With Energy Prices Falling, Inflation Has Nowhere to Hide
Spending growth is still outstripping productive capacity, and the Fed can no longer blame high prices on volatile energy markets.
-
•
America Can’t Outgrow $40 Trillion in Debt
Stabilizing the federal debt through growth alone would require 7.3 percent annual real GDP growth. Nothing in our history suggests that’s remotely plausible.
-
•
The Real Cost of $40 Trillion in Debt
Unchecked spending has pushed the federal debt to $40 trillion, weakening the economy and limiting the nation’s options when the next emergency arrives.
-
•
Why Economists Leave Government Spending Out of Inflation Measures
The CPI captures the rising cost of private consumption while leaving the rising cost of government consumption out of the equation.
-
•
July Inflation Rises, But Weakening Labor Complicates Fed’s Choice
The Fed is caught between cooling labor conditions and persistent demand, as nominal spending growth remains above its pre-pandemic pace.
-
•
The Lesson of 1971 Was Never About Gold
President Nixon abandoned the gold standard. The deeper problem was a monetary system dependent on political judgment.
-
•
AIER Everyday Price Index Posts July Dip as Inflation Pressures Cool
Our price index notes modest deflation as lower fuel costs offset increases elsewhere, strengthening the case for stable Fed rates in September.
-
•
Fed’s Task Force Should Fix What It Targets
A nominal spending target would spare The Fed guessing about the causes of inflation. The Chairman’s new task force could apply a rule instead.
-
•
Japan’s Debt Crisis Is a Global Warning
Japan can watch debt-service costs consume its budget, or suppress rates and risk inflation. Decades of borrowing have eliminated the easy options.