Sound Money Project
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“Why Obamanomics Has Failed”
“The administration’s stimulus program has failed. Growth is slow and unemployment remains high. The president, his friends and advisers talk endlessly about the circumstances they inherited as a way of avoiding responsibility for the 18 months for which they are responsible. But they want new stimulus measures—which is convincing evidence that they too recognize that…
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“The Financial Crisis: A Timeline of Events and Policy Actions”
“February 2007 February 27, 2007 | Freddie Mac Press Release The Federal Home Loan Mortgage Corporation (Freddie Mac) announces that it will no longer buy the most risky subprime mortgages and mortgage-related securities. April 2007 April 2, 2007 | SEC Filing New Century Financial Corporation, a leading subprime mortgage lender, files for Chapter 11 bankruptcy…
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“Text of Dodd-Frank Wall Street Reform and Consumer Protection Act”
“A summary of the Dodd-Frank Wall Street Reform and Consumer Protection Act, released Saturday by the House Financial Services Committee. The legislation is expected to come before Congress next week for a final vote. 1. Dodd-Frank Wall Street Reform and Consumer Protection Act Create a Sound Economic Foundation to Grow Jobs, Protect Consumers, Rein in…
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“Assessing Winners and Losers in Final Reform Bill”
“Those looking for clear winners and losers after the conference committee struck a historic final agreement early Friday on regulatory reform legislation are bound to be frustrated. For every agency or industry participant that appeared to gain in the bill, there was a significant downside, while those who arguably emerged bruised and battered after the…
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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.…
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The Stimflation Contest – $10,000
Our friends at Let Freedom Ring are hosting “The Stimflation Contest”. Contestants have a chance to win $10,000 for giving their best estimate on the next four years of inflation. For more details or to participate, click here.
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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…
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“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…
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“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…
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“Volcker Rule Attacked as Lawmakers Seek Fund Loophole”
“Senate negotiators will probably offer changes today to the financial overhaul bill to soften the Volcker rule by allowing banks to sponsor hedge funds and invest their own money, within limits, alongside that of clients. The compromise, designed to win the support of at least three Republican senators, comes as lawmakers struggle to reach agreement…
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“Why Obamanomics Has Failed”
“The administration’s stimulus program has failed. Growth is slow and unemployment remains high. The president, his friends and advisers talk endlessly about the circumstances they inherited as a way of avoiding responsibility for the 18 months for which they are responsible. But they want new stimulus measures—which is convincing evidence that they too recognize that…
-
“The Financial Crisis: A Timeline of Events and Policy Actions”
“February 2007 February 27, 2007 | Freddie Mac Press Release The Federal Home Loan Mortgage Corporation (Freddie Mac) announces that it will no longer buy the most risky subprime mortgages and mortgage-related securities. April 2007 April 2, 2007 | SEC Filing New Century Financial Corporation, a leading subprime mortgage lender, files for Chapter 11 bankruptcy…
-
“Text of Dodd-Frank Wall Street Reform and Consumer Protection Act”
“A summary of the Dodd-Frank Wall Street Reform and Consumer Protection Act, released Saturday by the House Financial Services Committee. The legislation is expected to come before Congress next week for a final vote. 1. Dodd-Frank Wall Street Reform and Consumer Protection Act Create a Sound Economic Foundation to Grow Jobs, Protect Consumers, Rein in…
-
“Assessing Winners and Losers in Final Reform Bill”
“Those looking for clear winners and losers after the conference committee struck a historic final agreement early Friday on regulatory reform legislation are bound to be frustrated. For every agency or industry participant that appeared to gain in the bill, there was a significant downside, while those who arguably emerged bruised and battered after 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.…
-
The Stimflation Contest – $10,000
Our friends at Let Freedom Ring are hosting “The Stimflation Contest”. Contestants have a chance to win $10,000 for giving their best estimate on the next four years of inflation. For more details or to participate, click here.
-
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…
-
“Volcker Rule Attacked as Lawmakers Seek Fund Loophole”
“Senate negotiators will probably offer changes today to the financial overhaul bill to soften the Volcker rule by allowing banks to sponsor hedge funds and invest their own money, within limits, alongside that of clients. The compromise, designed to win the support of at least three Republican senators, comes as lawmakers struggle to reach agreement…
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