Economy News

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Established 1999

New England, USA

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Monetary Policy

  • •

    Reflections on Money

    On Thursday, June 17, I attended a lecture by Dr. Benjamin Powell of Suffolk University. He spoke at the Charles G. Koch Foundation, giving one of his excellent lectures on Somalia and its Stateless society. While the lecture itself is well worth hearing, one of the most fundamental statements made came almost as an aside.…

  • •

    Sound Money Insights from Fed President

    Kansas City Fed President Thomas Hoenig is a lone dissenter at the Federal Open Market Committee (FOMC)–the central bank’s main policymaking body. At the June FOMC meeting, for the fourth time in a row, he dissented to the Fed’s statement that economic conditions “are likely to warrant exceptionally low levels of the federal funds rate…

  • •

    “The Fed’s Exit Strategy for Monetary Policy”

    “To many observers, the Federal Reserve’s extraordinary policy actions during the recent crisis averted a financial Armageddon and curtailed the depth and duration of the recession (Rudebusch 2009). To combat panic and dislocation in financial markets, the Fed provided an enormous amount of liquidity. To mitigate declines in spending and employment, it reduced the federal…

  • •

    “Fed Is Likely to Remain on Sidelines”

    “The Federal Reserve is widely expected to leave rates unchanged at its policy-setting meeting today, but low inflation and continued uncertainty about the recovery has economists pushing their forecasts for the eventual rate increase even further into the future. In a midmonth addendum to the Wall Street Journal’s economic forecasting survey conducted this week, 15…

  • •

    “Death and Taxes, Including Inflation: the Public versus Economists”

    “Inflation worries the general public much more than it does the economics profession, and economists remain perplexed as to exactly why. The costs that concern economists are inflation’s deadweight loss. But that is only a part of the losses that concern the public, because inflation simultaneously transfers some of people’s income into the hands of…

  • •

    “Q&A With Judy Shelton”

    “Judy Shelton is an economist who has written 15 pieces for the Wall Street Journal over the past two years. She is the author of several books including Money Meltdown in 1994 and The Coming Soviet Crash in 1989. In addition, she is on the board of the National Endowment for Democracy, which makes grants…

  • •

    “The Role of Monetary Policy”

    “There is wide agreement about the major goals of economic policy: high employment, stable prices, and rapid growth. There is less agree-ment that these goals are mutually compatible or, among those who re-gard them as incompatible, about the terms at which they can and should be substituted for one another. There is least agreement about…

  • •

    “Motionless Fed Likely to Provide No Cheer”

    “No news isn’t always good news. When Federal Reserve officials meet this week, almost two months will have passed since their last policy-setting conclave, the longest such stretch of the year. And it has been a pretty woeful period for financial markets. Since the Fed’s last meeting ended April 28, market volatility has surged, the…

  • •

    “The Folly of Currency Pegs”

    “The current flap over the sustainability of Greece’s membership in the European Economic and Monetary Union (EMU) is reminiscent, in many ways, of the events leading up to the collapse of the Bretton Woods system—another ultimately untenable currency regime—which was put into place after World War II and terminated by the break of the dollar’s…

  • •

    “Monetarism Defiant” – Anna Schwartz on the Fed

    “Anna Schwartz must be the oldest active revolutionary on earth. Born in 1915 in New York, she can still be found nearly every day at her office in the National Bureau of Economic Research on Fifth Avenue, where she has been tirelessly gathering data since 1941. And as her experience proves, data can transform the…

  • •

    Reflections on Money

    On Thursday, June 17, I attended a lecture by Dr. Benjamin Powell of Suffolk University. He spoke at the Charles G. Koch Foundation, giving one of his excellent lectures on Somalia and its Stateless society. While the lecture itself is well worth hearing, one of the most fundamental statements made came almost as an aside.…

  • •

    Sound Money Insights from Fed President

    Kansas City Fed President Thomas Hoenig is a lone dissenter at the Federal Open Market Committee (FOMC)–the central bank’s main policymaking body. At the June FOMC meeting, for the fourth time in a row, he dissented to the Fed’s statement that economic conditions “are likely to warrant exceptionally low levels of the federal funds rate…

  • •

    “The Fed’s Exit Strategy for Monetary Policy”

    “To many observers, the Federal Reserve’s extraordinary policy actions during the recent crisis averted a financial Armageddon and curtailed the depth and duration of the recession (Rudebusch 2009). To combat panic and dislocation in financial markets, the Fed provided an enormous amount of liquidity. To mitigate declines in spending and employment, it reduced the federal…

  • •

    “Fed Is Likely to Remain on Sidelines”

    “The Federal Reserve is widely expected to leave rates unchanged at its policy-setting meeting today, but low inflation and continued uncertainty about the recovery has economists pushing their forecasts for the eventual rate increase even further into the future. In a midmonth addendum to the Wall Street Journal’s economic forecasting survey conducted this week, 15…

  • •

    “Death and Taxes, Including Inflation: the Public versus Economists”

    “Inflation worries the general public much more than it does the economics profession, and economists remain perplexed as to exactly why. The costs that concern economists are inflation’s deadweight loss. But that is only a part of the losses that concern the public, because inflation simultaneously transfers some of people’s income into the hands of…

  • •

    “Q&A With Judy Shelton”

    “Judy Shelton is an economist who has written 15 pieces for the Wall Street Journal over the past two years. She is the author of several books including Money Meltdown in 1994 and The Coming Soviet Crash in 1989. In addition, she is on the board of the National Endowment for Democracy, which makes grants…

  • •

    “The Role of Monetary Policy”

    “There is wide agreement about the major goals of economic policy: high employment, stable prices, and rapid growth. There is less agree-ment that these goals are mutually compatible or, among those who re-gard them as incompatible, about the terms at which they can and should be substituted for one another. There is least agreement about…

  • •

    “Motionless Fed Likely to Provide No Cheer”

    “No news isn’t always good news. When Federal Reserve officials meet this week, almost two months will have passed since their last policy-setting conclave, the longest such stretch of the year. And it has been a pretty woeful period for financial markets. Since the Fed’s last meeting ended April 28, market volatility has surged, the…

  • •

    “The Folly of Currency Pegs”

    “The current flap over the sustainability of Greece’s membership in the European Economic and Monetary Union (EMU) is reminiscent, in many ways, of the events leading up to the collapse of the Bretton Woods system—another ultimately untenable currency regime—which was put into place after World War II and terminated by the break of the dollar’s…

  • •

    “Monetarism Defiant” – Anna Schwartz on the Fed

    “Anna Schwartz must be the oldest active revolutionary on earth. Born in 1915 in New York, she can still be found nearly every day at her office in the National Bureau of Economic Research on Fifth Avenue, where she has been tirelessly gathering data since 1941. And as her experience proves, data can transform the…