Monetary Economics
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The Fed Hits 3,000 Percent Inflation
“US inflation was not always as persistently high as it has been under the Fed. Before the Fed, the purchasing power of the dollar was determined by supply of and demand for gold.” ~ Thomas L. Hogan
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Disinflation good, Fed bad
“There’s no way for non-market actors to direct credit more reliably than market actors. The discipline of profit and loss is essential.” ~ Alexander W. Salter
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A World Dedollarized is Gold Remonetized
“What matters is having a ready means of transacting outside dollar-based systems and institutions in exigent circumstances: to maintain continuity of trade, and to hedge against the policy errors of central bankers.” ~ Peter C. Earle
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Will Lower Inflation Halt Rate Hikes?
“No matter how you slice it, real rates look sufficiently restrictive to bring down inflation. Indeed, they may be overly restrictive at this stage in the tightening cycle.” ~ William J. Luther
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FOMC Raises Rates in July
“The Fed’s experiment with ‘average inflation targeting,’ which made policy even more discretionary and hence less predictable, has been a failure. It’s time for the Fed to recommit to credible price stability.” ~Alexander W. Salter
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Central Bankers, Let the Price System Work!
“Congress is free to define ‘price stability’ however it wishes. If it wants a strict inflation target in all circumstances, that’s its right. But legislators would be well-advised to pay close attention to the microeconomic foundations of monetary policy.” ~ Alexander W. Salter
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No Place to Lay Your Head: How Economic Policy Makes Housing Unaffordable for Young Working Families
“There’s artificial scarcity in housing markets, but in that case it’s the planners themselves who put housing in such short supply – and at consequent high prices.” ~ H. Shelton Weeks and Victor Claar
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Fed Up with Tightening?
“Provided the recent monthly inflation figures give us an accurate forecast, the real federal funds rate is significantly above the natural rate. This indicates monetary policy is restrictive.” ~ Alexander W. Salter
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The SEC’s Illegal War on Crypto
“SEC officials have relied on opaque and discretionary enforcement actions. They have charged companies for not complying with the law without clearly stating what the law is.” ~ Thomas L. Hogan
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AIER’s Everyday Price Index Edges Up in June 2023
“The combination of Fed rate hikes and easing demand is clearly having the intended disinflationary effect on the general price level as measured by the various CPIs.” ~ Peter C. Earle
-
•
The Fed Hits 3,000 Percent Inflation
“US inflation was not always as persistently high as it has been under the Fed. Before the Fed, the purchasing power of the dollar was determined by supply of and demand for gold.” ~ Thomas L. Hogan
-
•
Disinflation good, Fed bad
“There’s no way for non-market actors to direct credit more reliably than market actors. The discipline of profit and loss is essential.” ~ Alexander W. Salter
-
•
A World Dedollarized is Gold Remonetized
“What matters is having a ready means of transacting outside dollar-based systems and institutions in exigent circumstances: to maintain continuity of trade, and to hedge against the policy errors of central bankers.” ~ Peter C. Earle
-
•
Will Lower Inflation Halt Rate Hikes?
“No matter how you slice it, real rates look sufficiently restrictive to bring down inflation. Indeed, they may be overly restrictive at this stage in the tightening cycle.” ~ William J. Luther
-
•
FOMC Raises Rates in July
“The Fed’s experiment with ‘average inflation targeting,’ which made policy even more discretionary and hence less predictable, has been a failure. It’s time for the Fed to recommit to credible price stability.” ~Alexander W. Salter
-
•
Central Bankers, Let the Price System Work!
“Congress is free to define ‘price stability’ however it wishes. If it wants a strict inflation target in all circumstances, that’s its right. But legislators would be well-advised to pay close attention to the microeconomic foundations of monetary policy.” ~ Alexander W. Salter
-
•
No Place to Lay Your Head: How Economic Policy Makes Housing Unaffordable for Young Working Families
“There’s artificial scarcity in housing markets, but in that case it’s the planners themselves who put housing in such short supply – and at consequent high prices.” ~ H. Shelton Weeks and Victor Claar
-
•
Fed Up with Tightening?
“Provided the recent monthly inflation figures give us an accurate forecast, the real federal funds rate is significantly above the natural rate. This indicates monetary policy is restrictive.” ~ Alexander W. Salter
-
•
The SEC’s Illegal War on Crypto
“SEC officials have relied on opaque and discretionary enforcement actions. They have charged companies for not complying with the law without clearly stating what the law is.” ~ Thomas L. Hogan
-
•
AIER’s Everyday Price Index Edges Up in June 2023
“The combination of Fed rate hikes and easing demand is clearly having the intended disinflationary effect on the general price level as measured by the various CPIs.” ~ Peter C. Earle