Monetary Economics
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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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What I Saw in Milei’s Argentina
Argentina’s vast potential is shackled by its Perónist past. The path to a thriving market economy demands relentless action across society, from the grassroots level to the Casa Rosada.
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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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Psychology, Security, and the Subtle Surrender of Freedom
Tocqueville warned that freedom can erode not by force, but through the quiet surrender of responsibility.
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Miran Follows a Long Tradition of Political Appointees at the Fed
From Eccles to Greenspan to Yellen, history suggests politically seasoned Fed officials are the rule rather than the exception.
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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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AIER’s Everyday Price Index Rises 0.21 Percent in August 2025
Sticky service costs, moderating but still-present tariff effects, and a softening labor market combine to put pressure on the Fed.
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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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•
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.
-
•
What I Saw in Milei’s Argentina
Argentina’s vast potential is shackled by its Perónist past. The path to a thriving market economy demands relentless action across society, from the grassroots level to the Casa Rosada.
-
•
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.
-
•
Psychology, Security, and the Subtle Surrender of Freedom
Tocqueville warned that freedom can erode not by force, but through the quiet surrender of responsibility.
-
•
Miran Follows a Long Tradition of Political Appointees at the Fed
From Eccles to Greenspan to Yellen, history suggests politically seasoned Fed officials are the rule rather than the exception.
-
•
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.
-
•
AIER’s Everyday Price Index Rises 0.21 Percent in August 2025
Sticky service costs, moderating but still-present tariff effects, and a softening labor market combine to put pressure on the Fed.
-
•
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.