Monetary Economics
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Dollar Weakens as Markets Reprice US Political Risk
The dollar is being treated as a pressure-release mechanism for US debt — and markets are responding by demanding protection against intentional depreciation.
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The Fed Should Hold Steady in January
Cutting rates further risks overstimulating demand, when inflation remains stubbornly above the Fed’s two-percent target.
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Business Conditions Monthly November 2025
Shelter costs led price increases, but goods price acceleration leveled off. We’ve reached a new, distinctly elevated “normal.”
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The Powell Affair and the Limits of The Fed’s Immunity
The DOJ’s investigation is ugly politics, but we might welcome a test of whether central bankers are subject to the same oversight as everyone else.
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Is Crypto Just a Meme Coin Casino?
While there is certainly speculation in cryptocurrencies, as in all financial markets, the cryptocurrency industry is more than meme coins.
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The Regulatory Pendulum: Why Financial Rules Keep Missing the Mark
Until policymakers accept that financial regulation shifts risk rather than eliminates it, we will keep cycling through crisis, overreaction, unintended consequences, and the next crisis.
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If Independent Agencies Are Unconstitutional, so Is the Fed
The Court says expertise can’t override separation of powers. So why does the most powerful independent agency — the Fed — get a carveout?
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Dallas Fed President: It’s Time to Replace the Fed’s Interest Rate Target
Reducing the Fed’s role in the financial system would be a step in the right direction.
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Inflation Retreats from Late-Summer Highs, Nears Fed Target
Headline and core inflation both cooled over the past two months, led by softening energy costs. Missing data complicates projections.
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The Return of Quantitative Easing
After several years of quantitative tightening, the Fed is restarting QE amid persistent market and policy pressures.
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•
Dollar Weakens as Markets Reprice US Political Risk
The dollar is being treated as a pressure-release mechanism for US debt — and markets are responding by demanding protection against intentional depreciation.
-
•
The Fed Should Hold Steady in January
Cutting rates further risks overstimulating demand, when inflation remains stubbornly above the Fed’s two-percent target.
-
•
Business Conditions Monthly November 2025
Shelter costs led price increases, but goods price acceleration leveled off. We’ve reached a new, distinctly elevated “normal.”
-
•
The Powell Affair and the Limits of The Fed’s Immunity
The DOJ’s investigation is ugly politics, but we might welcome a test of whether central bankers are subject to the same oversight as everyone else.
-
•
Is Crypto Just a Meme Coin Casino?
While there is certainly speculation in cryptocurrencies, as in all financial markets, the cryptocurrency industry is more than meme coins.
-
•
The Regulatory Pendulum: Why Financial Rules Keep Missing the Mark
Until policymakers accept that financial regulation shifts risk rather than eliminates it, we will keep cycling through crisis, overreaction, unintended consequences, and the next crisis.
-
•
If Independent Agencies Are Unconstitutional, so Is the Fed
The Court says expertise can’t override separation of powers. So why does the most powerful independent agency — the Fed — get a carveout?
-
•
Dallas Fed President: It’s Time to Replace the Fed’s Interest Rate Target
Reducing the Fed’s role in the financial system would be a step in the right direction.
-
•
Inflation Retreats from Late-Summer Highs, Nears Fed Target
Headline and core inflation both cooled over the past two months, led by softening energy costs. Missing data complicates projections.
-
•
The Return of Quantitative Easing
After several years of quantitative tightening, the Fed is restarting QE amid persistent market and policy pressures.