Monetary Policy
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Economic Revolution in Argentina: A Wake-Up Call for America’s Fiscal Future
“We can’t be too proud to take a tip from Argentina. The perilous outcomes of unchecked government spending can manifest anywhere.” ~Vance Ginn
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Inflation: It’s Not the Supply Side
” Some combination of fiscal and monetary policy remains the best explanation for the once-in-a-generation inflation rates that peaked in summer 2022, as well as their gradual decline.” ~Alexander W. Salter
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On Monetary Premia
“One day we might look back at our cottage industry of diversified funds, tax-favored retirement accounts, capital gains taxes, clever accountants, hedge fund managers, Fed watchers, and army of central bank economists as positively medieval.” ~Joakim Book
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Inflation Undershoots Fed Projections
“The FOMC changed course last week, foregoing a previously projected rate hike and projecting deeper rate cuts in 2024 than previously anticipated. But those rate cuts may come too late.” ~William J. Luther
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The Inflationary-Profits Hypothesis is Mush
“Once a bastion of sound reporting, the Wall Street Journal’s economy desk is slowly descending into incoherence…Simple economics demonstrates why the inflationary-profits hypothesis is bunk.” ~Alexander W. Salter
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FOMC Holds Rates, Revises Projections
“After months of worrying that they had not yet done enough, FOMC members now seem to think they have a handle on inflation and will see it gradually return to 2 percent. Let’s hope they are correct.” ~William J. Luther
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Despite CPI Uptick, Monetary Policy Remains Tight
“The slight bump in inflation won’t spook them into going even tighter. And despite the cries from financial markets, it’s too early to contemplate cuts.” ~Alexander W. Salter
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Argentina’s New President Should Reframe Its Central Bank Even If He Later Proceeds To Eliminate It
“Establishing trustworthy monetary rules is needed to incentivize fiscal responsibility. Constructing robust institutions that allow monetary authorities to act within constraints is even more imperative.” ~Joaquín Henault
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The West Should Strengthen Ties with Argentina’s New President Javier Milei
Argentina just elected Javier Milei, a boisterous, wild-haired economist with a pro-market agenda to transform the nation’s economy. After decades of Peronist rule, Argentina is now home to the first libertarian head of state in modern history, a feat that many in the media seem to miss. Even before the official results were announced, voters…
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Argentina’s Rampant Inflation, Explained (in One Chart)
“Whichever definition one prefers to use — an expansion of the money supply which leads to price increases, or a broad and sustained increase in consumer prices — inflation is caused by the governments and central banks who control the money supply.” ~Jon Miltimore
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•
Economic Revolution in Argentina: A Wake-Up Call for America’s Fiscal Future
“We can’t be too proud to take a tip from Argentina. The perilous outcomes of unchecked government spending can manifest anywhere.” ~Vance Ginn
-
•
Inflation: It’s Not the Supply Side
” Some combination of fiscal and monetary policy remains the best explanation for the once-in-a-generation inflation rates that peaked in summer 2022, as well as their gradual decline.” ~Alexander W. Salter
-
•
On Monetary Premia
“One day we might look back at our cottage industry of diversified funds, tax-favored retirement accounts, capital gains taxes, clever accountants, hedge fund managers, Fed watchers, and army of central bank economists as positively medieval.” ~Joakim Book
-
•
Inflation Undershoots Fed Projections
“The FOMC changed course last week, foregoing a previously projected rate hike and projecting deeper rate cuts in 2024 than previously anticipated. But those rate cuts may come too late.” ~William J. Luther
-
•
The Inflationary-Profits Hypothesis is Mush
“Once a bastion of sound reporting, the Wall Street Journal’s economy desk is slowly descending into incoherence…Simple economics demonstrates why the inflationary-profits hypothesis is bunk.” ~Alexander W. Salter
-
•
FOMC Holds Rates, Revises Projections
“After months of worrying that they had not yet done enough, FOMC members now seem to think they have a handle on inflation and will see it gradually return to 2 percent. Let’s hope they are correct.” ~William J. Luther
-
•
Despite CPI Uptick, Monetary Policy Remains Tight
“The slight bump in inflation won’t spook them into going even tighter. And despite the cries from financial markets, it’s too early to contemplate cuts.” ~Alexander W. Salter
-
•
Argentina’s New President Should Reframe Its Central Bank Even If He Later Proceeds To Eliminate It
“Establishing trustworthy monetary rules is needed to incentivize fiscal responsibility. Constructing robust institutions that allow monetary authorities to act within constraints is even more imperative.” ~Joaquín Henault
-
•
The West Should Strengthen Ties with Argentina’s New President Javier Milei
Argentina just elected Javier Milei, a boisterous, wild-haired economist with a pro-market agenda to transform the nation’s economy. After decades of Peronist rule, Argentina is now home to the first libertarian head of state in modern history, a feat that many in the media seem to miss. Even before the official results were announced, voters…
-
•
Argentina’s Rampant Inflation, Explained (in One Chart)
“Whichever definition one prefers to use — an expansion of the money supply which leads to price increases, or a broad and sustained increase in consumer prices — inflation is caused by the governments and central banks who control the money supply.” ~Jon Miltimore