Monetary Policy
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How Should Fed Officials Think About the Dual Mandate?
The Fed is tasked with both price stability and maximum employment. But any significant shift in one may create steep costs in the other.
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Trump’s Handwritten Note to Powell: Lower Rates Abroad, So Why Not Here?
Do lower interest rates in other countries really mean the Fed is too tight?
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But Lagarde, Europe Is a Museum!
A shift of foreign investments from dollars to euros would only make inflation and confiscation risks worse.
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There’s a New Sheriff at the Fed
Michelle Bowman’s remarks offer a clear vision for a more focused, flexible, and transparent regulatory regime. It’s a welcome recalibration.
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Despite Tariffs, Inflation Remained Low in May
The best the Fed can do (whether or not tariff shocks appear) is keep nominal spending on a stable trajectory.
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Trump v Powell: The Credibility Cost of Politicized Monetary Policy
Politicians might prefer lower interest rates, but the Fed must protect its fragile post-pandemic progress on prices. Credibility is hard earned and easily lost.
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Should Economists Rule the World?
Mark Carney, an economist who served as the central banker of two G7 countries, is now the prime minister of Canada.
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Fed Holds Rates Steady Amid Economic Uncertainty
The Federal Reserve board isn’t committing to rate cuts, voting to holding its policy interest rate at 4.25 to 4.5 percent. As inflation and employment trends stabilize, caution is warranted.
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Two Cheers (and a Warning) for May’s Inflation Slowdown
Central bankers are in a pickle. But the current, frustrating tradeoffs result from short-sighted fiscal policies of the past.
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•
Taking Government Out of GDP, An Update
Government spending comes at a cost to our standard of living: it’s time to stop counting weapons systems as citizens’ economic welfare.
-
•
How Should Fed Officials Think About the Dual Mandate?
The Fed is tasked with both price stability and maximum employment. But any significant shift in one may create steep costs in the other.
-
•
Trump’s Handwritten Note to Powell: Lower Rates Abroad, So Why Not Here?
Do lower interest rates in other countries really mean the Fed is too tight?
-
•
But Lagarde, Europe Is a Museum!
A shift of foreign investments from dollars to euros would only make inflation and confiscation risks worse.
-
•
There’s a New Sheriff at the Fed
Michelle Bowman’s remarks offer a clear vision for a more focused, flexible, and transparent regulatory regime. It’s a welcome recalibration.
-
•
Despite Tariffs, Inflation Remained Low in May
The best the Fed can do (whether or not tariff shocks appear) is keep nominal spending on a stable trajectory.
-
•
Trump v Powell: The Credibility Cost of Politicized Monetary Policy
Politicians might prefer lower interest rates, but the Fed must protect its fragile post-pandemic progress on prices. Credibility is hard earned and easily lost.
-
•
Should Economists Rule the World?
Mark Carney, an economist who served as the central banker of two G7 countries, is now the prime minister of Canada.
-
•
Fed Holds Rates Steady Amid Economic Uncertainty
The Federal Reserve board isn’t committing to rate cuts, voting to holding its policy interest rate at 4.25 to 4.5 percent. As inflation and employment trends stabilize, caution is warranted.
-
•
Two Cheers (and a Warning) for May’s Inflation Slowdown
Central bankers are in a pickle. But the current, frustrating tradeoffs result from short-sighted fiscal policies of the past.
-
•
Taking Government Out of GDP, An Update
Government spending comes at a cost to our standard of living: it’s time to stop counting weapons systems as citizens’ economic welfare.