How Central Banking Increased Inequality
Focusing almost exclusively on consumer price inflation, economists have overlooked the redistributive effects of money creation through other channels.
Focusing almost exclusively on consumer price inflation, economists have overlooked the redistributive effects of money creation through other channels.
Risk premiums determined in an unhampered market align the interests of savers and investors. When central banks interfere with this, trouble results.
The last time the money supply grew at a smaller rate was during September 2008
It may be minor, but this week's rate hike should be just high enough so the Bank of Canada can cut them again when things start to get tough.
Today, Janet Yellen struck a dovish tone with Congress, saying that the Fed's target interest rate is not really that low after all.
Those of us who are hostile to central planning are doubly hostile to governmental interference in the price mechanism — the policies of QE and ZIRP.