Sound Money
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The Fed’s Unlawful Floor System Pays Banks Billions to Sit on Reserves
To prevent emergency lending from depreciating the dollar, the Fed broke the law by deliberately paying a premium rate on reserves.
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Sanctions Didn’t Destroy Venezuela’s Economy — Socialism Did
Venezuela’s five-stage socialist collapse dismantled the rule of law, destroyed investment, and unleashed hyperinflation, long before Washington acted.
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Fed Cuts Rates for Second Straight Meeting
Inflation remains stubbornly high and employment is softening. The Fed’s “balanced approach” marginally lowered interest rates again.
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Why the Erosion of Central Bank Independence Matters
The lesson from around the world is clear: countries that politicize their central banks pay a steep price.
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Will Bitcoin Strengthen or Weaken US Dollar Dominance?
Bitcoin’s rise is likely to reshape the global role of the dollar.
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Inflation Still Over Target in August
Inflation has exceeded the Fed’s two-percent target for 54 consecutive months, with prices up 25 percent since March 2020.
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Inflation Heats Up in August
Inflation is rising compared to its year-over-year pace, nudged along by tariff effects. But Fed officials are expected to cut rates next week, anyway.
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The Fed’s Mission Creep Under Jerome Powell
Former Fed officials are right to worry about the central bank’s independence. But they should not be surprised. Under Powell’s leadership, the Fed has drifted into the political arena.
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One Big, Beautiful Tradeoff for the Fed
Raising the debt ceiling takes the Fed out of the reserve volatility frying pan—but may land it in the debt-monetization fire.
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Inflation Declined in July
The Federal Reserve’s restrictive stance continues to put downward pressure on inflation.
-
•
The Fed’s Unlawful Floor System Pays Banks Billions to Sit on Reserves
To prevent emergency lending from depreciating the dollar, the Fed broke the law by deliberately paying a premium rate on reserves.
-
•
Sanctions Didn’t Destroy Venezuela’s Economy — Socialism Did
Venezuela’s five-stage socialist collapse dismantled the rule of law, destroyed investment, and unleashed hyperinflation, long before Washington acted.
-
•
Fed Cuts Rates for Second Straight Meeting
Inflation remains stubbornly high and employment is softening. The Fed’s “balanced approach” marginally lowered interest rates again.
-
•
Why the Erosion of Central Bank Independence Matters
The lesson from around the world is clear: countries that politicize their central banks pay a steep price.
-
•
Will Bitcoin Strengthen or Weaken US Dollar Dominance?
Bitcoin’s rise is likely to reshape the global role of the dollar.
-
•
Inflation Still Over Target in August
Inflation has exceeded the Fed’s two-percent target for 54 consecutive months, with prices up 25 percent since March 2020.
-
•
Inflation Heats Up in August
Inflation is rising compared to its year-over-year pace, nudged along by tariff effects. But Fed officials are expected to cut rates next week, anyway.
-
•
The Fed’s Mission Creep Under Jerome Powell
Former Fed officials are right to worry about the central bank’s independence. But they should not be surprised. Under Powell’s leadership, the Fed has drifted into the political arena.
-
•
One Big, Beautiful Tradeoff for the Fed
Raising the debt ceiling takes the Fed out of the reserve volatility frying pan—but may land it in the debt-monetization fire.
-
•
Inflation Declined in July
The Federal Reserve’s restrictive stance continues to put downward pressure on inflation.