Monetary Policy
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Don’t Look Up: The Allegory We’ve Been Waiting For
“McKay’s dark satire about the inability to warn most people of impending danger before it’s too late should resonate with all who strive for sound money, fiscal sobriety, personal responsibility, and limited government.” ~ Peter C. Earle
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The Money Illusion: A Review
“‘Nothing is as it seems in the world of money,’ Sumner concludes, and worse so as of late. In his grand attempt at rectifying the many blunders in understanding the Great Recession, there’s something for everyone to learn.” ~ Joakim Book
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Three Principles for Monetary Institutions: Review of Money and the Rule of Law
“Money and the Rule of Law questions a lot of things we usually take for granted in the discussion of monetary policy, and makes the case for generality, predictability, and robustness created by strict monetary rules.” ~ Art Carden
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The Impact of Higher Inflation on US Asset Class Returns
“If the Fed is to be a mere BoJ copycat, does that mean that it can keep US equities artificially elevated by a perpetually low policy rate? No more than the BoJ has been able to do for Japanese equities.” ~ Richard M. Salsman
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The Fed’s Higher Fed Funds Rate Projections Mean What?
“It is rarely prudent to assume that a central bank’s central planners can predict the future better than you can, or that they really know what they are doing and why.” ~ Alan Reynolds
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Paul Volcker, the Fed, and ‘Tight Credit.’ The Myth That Won’t Die.
“It’s no surprise that economic types want to believe all good things run through central planners, but readers of political and economic commentary would be wise to be skeptical. The Fed’s power is well overstated.” ~ John Tamny
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A Smarter Debt Limit Bill
“Senate Republicans are expected to indulge in yet another futile game of bluff poker over the symbolic debt limit. They always fold in the end because Congress has no choice but to pay for obligations it has already incurred.” ~ Alan Reynolds & Steve Stein
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Limited Government and Money: A Review of Money and the Rule of Law
“Truly limited government involves limiting the discretion of the Federal Reserve. A solution involves imposing binding rules on both the Fed and Congress. The rules must specifically restrict the creation of ‘liquidity and credit except in specific ways that are general, predictable, and robust.'” ~ Daniel Sutter
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In Defense of Bank Deposits: An Open Letter to Professor Omarova
“I can’t help thinking that someone placed in charge of a quarter of the nation’s banks ought to recognize the valuable services they perform, and recognize them well enough to be willing to oppose any plan that would prevent them from continuing to perform those services.” ~ George Selgin
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Money and the Constitution
“The dubious constitutionality of the Federal Reserve System set up in 1912 might have been overlooked if it had provided price stability, lower unemployment, or enhanced economic growth.” ~ Robert F. Mulligan
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•
Don’t Look Up: The Allegory We’ve Been Waiting For
“McKay’s dark satire about the inability to warn most people of impending danger before it’s too late should resonate with all who strive for sound money, fiscal sobriety, personal responsibility, and limited government.” ~ Peter C. Earle
-
•
The Money Illusion: A Review
“‘Nothing is as it seems in the world of money,’ Sumner concludes, and worse so as of late. In his grand attempt at rectifying the many blunders in understanding the Great Recession, there’s something for everyone to learn.” ~ Joakim Book
-
•
Three Principles for Monetary Institutions: Review of Money and the Rule of Law
“Money and the Rule of Law questions a lot of things we usually take for granted in the discussion of monetary policy, and makes the case for generality, predictability, and robustness created by strict monetary rules.” ~ Art Carden
-
•
The Impact of Higher Inflation on US Asset Class Returns
“If the Fed is to be a mere BoJ copycat, does that mean that it can keep US equities artificially elevated by a perpetually low policy rate? No more than the BoJ has been able to do for Japanese equities.” ~ Richard M. Salsman
-
•
The Fed’s Higher Fed Funds Rate Projections Mean What?
“It is rarely prudent to assume that a central bank’s central planners can predict the future better than you can, or that they really know what they are doing and why.” ~ Alan Reynolds
-
•
Paul Volcker, the Fed, and ‘Tight Credit.’ The Myth That Won’t Die.
“It’s no surprise that economic types want to believe all good things run through central planners, but readers of political and economic commentary would be wise to be skeptical. The Fed’s power is well overstated.” ~ John Tamny
-
•
A Smarter Debt Limit Bill
“Senate Republicans are expected to indulge in yet another futile game of bluff poker over the symbolic debt limit. They always fold in the end because Congress has no choice but to pay for obligations it has already incurred.” ~ Alan Reynolds & Steve Stein
-
•
Limited Government and Money: A Review of Money and the Rule of Law
“Truly limited government involves limiting the discretion of the Federal Reserve. A solution involves imposing binding rules on both the Fed and Congress. The rules must specifically restrict the creation of ‘liquidity and credit except in specific ways that are general, predictable, and robust.'” ~ Daniel Sutter
-
•
In Defense of Bank Deposits: An Open Letter to Professor Omarova
“I can’t help thinking that someone placed in charge of a quarter of the nation’s banks ought to recognize the valuable services they perform, and recognize them well enough to be willing to oppose any plan that would prevent them from continuing to perform those services.” ~ George Selgin
-
•
Money and the Constitution
“The dubious constitutionality of the Federal Reserve System set up in 1912 might have been overlooked if it had provided price stability, lower unemployment, or enhanced economic growth.” ~ Robert F. Mulligan