Economy News

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Established 1999

New England, USA

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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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    “Death and Taxes, Including Inflation: the Public versus Economists”

    “Inflation worries the general public much more than it does the economics profession, and economists remain perplexed as to exactly why. The costs that concern economists are inflation’s deadweight loss. But that is only a part of the losses that concern the public, because inflation simultaneously transfers some of people’s income into the hands of…

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    “U.S. Stocks Flit Between Gains and Losses Ahead of Fed”

    “Stocks wavered early Wednesday as investors awaited word from the Federal Reserve on its latest interest-rate decision and the outlook for the U.S. economy. The Dow Jones Industrial Average, which entered Wednesday’s trading on a two-day losing streak, posted a small gain just after the open but recently retreated to trade 11 points lower at…

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    “Q&A With Judy Shelton”

    “Judy Shelton is an economist who has written 15 pieces for the Wall Street Journal over the past two years. She is the author of several books including Money Meltdown in 1994 and The Coming Soviet Crash in 1989. In addition, she is on the board of the National Endowment for Democracy, which makes grants…

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    “The Role of Monetary Policy”

    “There is wide agreement about the major goals of economic policy: high employment, stable prices, and rapid growth. There is less agree-ment that these goals are mutually compatible or, among those who re-gard them as incompatible, about the terms at which they can and should be substituted for one another. There is least agreement about…

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    The Housing Boom and Bust

    “Now, in The Housing Boom and Bust (Basic Books), Sowell contemplates the greatest expansion of government power in a generation, which was itself occasioned by the greatest economic crisis in as long. A quick but thorough guide to the causes of the crises, Sowell’s book shows how government policies led to a huge increase in…